Joint Review Board - Dec 11 2025 - Agenda - Pdf - City of Evanston
AgendaAI Summary
The Evanston Joint Review Board met on December 11, 2025, to conduct its statutorily required annual review of Tax Increment Financing (TIF) district reports for fiscal year 2024. The agenda included approval of 2024 meeting minutes, review of annual reports for five active TIF districts (Howard Ridge, West Evanston, Dempster Dodge, Chicago Main, and Five Fifths), and board discussion. The meeting was held virtually via Google Meet and involved representatives from the City of Evanston, Oakton College, Evanston Township High School District 202, Evanston School District 65, and the Evanston Public Library.
Full text
AGENDA Joint Review Board Thursday, December 11, 2025 11:00 AM Google Meeting Video call link: meet.google.com/qdz-wukc-syn dial: 1 334-422-0834 PIN: 653 562 452# Page (I) CALL TO ORDER/DECLARATION OF A QUORUM (II) INTRODUCTION OF REPRESENTATIVES (III) SELECTION OF CHAIRPERSON (IV) REVIEW OF JOINT REVIEW BOARD PROCEDURES & DUTIES (V) APPROVAL OF MINUTES OF REGULAR MEETING A. 2024 Joint Review Board (JRB) Minutes 3 - 5 (VI) PUBLIC COMMENT (VII) REVIEW OF ANNUAL REPORTS FISCAL YEAR JAN 1, 2024 - DEC 31, 2024 A. TIF 5 Howard Ridge FY 2024 Annual Report 6 - 29 Page 1 of 127 -- 1 of 127 -- B. TIF6 West Evanston FY 2024 Annual Report 30 - 54 C. TIF 7 Dempster Dodge FY 2024 Annual Report 55 - 78 D. TIF 8 Chicago Main FY 2024 Annual Report 79 - 102 E. TIF 9 Five Fifths FY 2024 Annual Report 103 - 127 (VIII) BOARD DISCUSSION (IX) ADJOURNMENT Page 2 of 127 -- 2 of 127 -- DRAFT EVANSTON JOINT REVIEW BOARD MINUTES DECEMBER 5, 2024 10:00 A.M. Location: Virtual Meeting Attendees Members: ● Andy Williams, Controller, Oakton College ● Kendra Williams, Chief Financial Officer, Evanston Township High School District 202 ● Mohammed Elahi, Joint Review Board Member ● Tamara Mitchell, Chief Financial Officer, Evanston School District 65 ● Yolande Wilburn, Evanston Public Library Staff: ● Paul Zalmezak, Economic Development Manager, City of Evanston ● Hitesh Desai, Chief Financial Officer, City of Evanston ● Neal Reeves, Economic Development Division, City of Evanston ● Katie Boden, Economic Development Coordinator, City of Evanston ● Iryna Dziuk, TIF Consultant, Ryan LLC (formerly Kane, McKenna & Associates) Public Attending: ● Kristian (Chrissy) Harris, Councilmember, City of Evanston ● Robert Seidenberg, Media (Evanston RoundTable) 1. Call to Order The meeting was called to order at 9:56 a.m. by Paul Zalmezak, who volunteered to serve as Chair. ● Motion: Mohammed Elahi moved to appoint Paul Zalmezak as Chair. ● Second: Kendra Williams. ● Vote: Motion passed unanimously. A quorum was confirmed. 2. Introductions All attendees introduced themselves and their affiliations. 3. Purpose of Annual JRB Meeting Presenter: Iryna Dziuk, Ryan LLC ● The annual JRB meeting is required by Illinois state statute. A. Page 3 of 127 -- 3 of 127 -- DRAFT ● Each year, municipalities must file and review annual TIF reports using a standardized state template. ● Evanston’s reports were filed, accepted by the Illinois Comptroller’s Office, and are publicly available on the state website. ● The reports include required attachments such as legal certifications, audit opinions, and financial statements for all active TIF districts Discussion: Paul Zalmezak noted that while the state reports are highly standardized, the City maintains a TIF District webpage with clearer summaries, maps, ordinances, and annual reports for public reference. 4. Financial Overview of Evanston TIF Districts Presenter: Hitesh Desai, Chief Financial Officer Evanston has five active TIF districts: 1. Howard & Ridge (expires 2026) 2. West Evanston 3. Chicago-Main 4. Dempster-Dodge 5. Five-Fifths (Fifth Ward) Equalized Assessed Value (EAV) Highlights (2023 data) ● Howard & Ridge: Total EAV $28M; Incremental $16.6M ● West Evanston: Incremental $7M ● Chicago-Main: Incremental approx. $14.5M ● Dempster-Dodge: Incremental approx. $6M ● Five-Fifths: Incremental $18.4M Revenue & Fund Balances (FY2023): ● Howard & Ridge – $1.3M revenue; $1.8M fund balance ● West Evanston – $2.0M revenue; $2.2M fund balance ● Chicago-Main – $1.1M revenue; $222K fund balance ● Dempster-Dodge – $489K revenue; $648K fund balance ● Five-Fifths – $1.4M revenue; $650K fund balance All TIFs reported healthy fund balances as of the October 2024 financial report. 5. District Updates Howard & Ridge TIF ● Established 2004; expires 2026. ● Supported 415 Howard Street mixed-use project; long-term rebate agreement concluded. A. Page 4 of 127 -- 4 of 127 -- DRAFT ● Increment will soon return to taxing bodies. ● “One Howard” corridor plan developed in partnership with Rogers Park Business Alliance; received two state-level planning awards. ● City acquired 729 Howard (former coin laundry) for future mixed-income housing redevelopment. Environmental cleanup expected to conclude April 2025. West Evanston TIF ● Established 2005; potential legislative extension under discussion. ● Focus areas: Church & Dodge, Mason Park, Emerson Square, and surrounding industrial areas. ● Recent acquisitions near Lake & Dodge will complete trail and connectivity improvements. ● Collaboration with ETHS and District 202 to explore affordable housing expansion opportunities. ● Ongoing negotiations to acquire underutilized industrial parcels for redevelopment. Dempster-Dodge TIF ● Created after Dominick’s grocery store closure to stabilize shopping center. ● Valli Produce redevelopment revitalized the area; now nearly 100% occupied. ● Outstanding bond debt ($2M issued 2017; final payment 2035) prevents early closure. ● Notable tenants: Dance Center Evanston, Blink Fitness, Kids Empire. Chicago-Main TIF ● Created 2013; supports mixed-use redevelopment on former Vogue Fabrics site (now fully occupied). ● Developer pursuing new 200-unit residential project behind the Main Street post office. ● Outstanding bond debt ($2.9M issued 2017; final payment 2035). Five-Fifths (Fifth Ward) TIF ● Established 2021; focused on affordable housing and infrastructure improvements in the Fifth Ward. ● Includes Civic Center, Fleet Services, and the “Trulee” assisted living development. ● Revenue sharing agreements in place with School Districts 65 and 202. ● Potential redevelopment opportunities if the City relocates from the Civic Center property. 6. Public Comment No public comments were recorded. 7. Adjournment Meeting adjourned at approximately 11:10 a.m. A. Page 5 of 127 -- 5 of 127 -- First Name: Last Name: Address: Title: Telephone: City: Evanston Zip: 60201-2796 E-mail Date I attest to the best of my knowledge, that this FY 2024 report of the redevelopment project area(s) is complete and accurate pursuant to Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] and or Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.]. in the City/Village of: City of Evanston FILL OUT ONE FOR EACH TIF DISTICT Date Terminated MM/DD/YYYY Howard and Ridge TIF Distrct No.5 FY 2024 TIF Administrator Contact Information-Required Name of Municipality: County: City of Evanston Cook Unit Code: 016/175/30 Reporting Fiscal Year: Fiscal Year End: 2024 12/31/2024 1/26/2004 __________________________________________________________________________ _________________________________ Section 1 (65 ILCS 5/11-74.4-5 (d) (1.5) and 65 ILCS 5/11-74.6-22 (d) (1.5)*) Written signature of TIF Administrator Desai Hitesh 847-448-4311 hdesai@cityofevanston.org FY 2024 ANNUAL TAX INCREMENT FINANCE REPORT Name of Redevelopment Project Area Date Designated MM/DD/YYYY 2100 Ridge Avenue Chief Financial Officer *All statutory citations refer to one of two sections of the Illinois Municipal Code: The Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] or the Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.] 9/11/2025 A. Page 6 of 127 -- 6 of 127 -- FY 2024 Name of Redevelopment Project Area: Primary Use of Redevelopment Project Area*: If "Combination/Mixed" List Component Types: Under which section of the Illinois Municipal Code was the Redevelopment Project Area designated? (check one): Tax Increment Allocation Redevelopment Act Industrial Jobs Recovery Law No Yes For redevelopment projects beginning prior to FY 2022, were there any amendments, to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment (labeled Attachment A). For redevelopment projects beginning in or after FY 2022, were there any amendments, enactments or extensions to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment, enactment or extension, and a copy of the redevelopment plan (labeled Attachment A). X Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of the requirements of the Act during the preceding fiscal year. [65 ILCS 5/11-74.4-5 (d) (3) and 5/11-74.6-22 (d) (3)] Please enclose the CEO Certification (labeled Attachment B). X Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5/11-74.4-5 (d) (4) and 5/11-74.6-22 (d) (4)] Please enclose the Legal Counsel Opinion (labeled Attachment C). X Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project implemented and a description of the redevelopment activities. [65 ILCS 5/11-74.4-5 (d) (7) (A and B) and 5/11-74.6-22 (d) (7) (A and B)] If yes, please enclose the Activities Statement (labled Attachment D). X Were any agreements entered into by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (7) (C) and 5/11-74.6-22 (d) (7) (C)] If yes, please enclose the Agreement(s) (labeled Attachment E). X Is there additional information on the use of all funds received under this Division and steps taken by the municipality to achieve the objectives of the redevelopment plan? [65 ILCS 5/11-74.4-5 (d) (7) (D) and 5/11-74.6-22 (d) (7) (D)] If yes, please enclose the Additional Information (labeled Attachment F). X Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have received or are receiving payments financed by tax increment revenues produced by the same TIF? [65 ILCS 5/11-74.4-5 (d) (7) (E) and 5/11-74.6-22 (d) (7) (E)] If yes, please enclose the contract(s) or description of the contract(s) (labeled Attachment G). X Were there any reports submitted to the municipality by the joint review board? [65 ILCS 5/11-74.4-5 (d) (7) (F) and 5/11-74.6-22 (d) (7) (F)] If yes, please enclose the Joint Review Board Report (labeled Attachment H). X Were any obligations issued by the municipality? [65 ILCS 5/11-74.4-5 (d) (8) (A) and 5/11-74.6-22 (d) (8) (A)] If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached (labeled Attachment J). X An analysis prepared by a financial advisor or underwriter, chosen by the municipality, setting forth the nature and term of obligation; projected debt service including required reserves and debt coverage; and actual debt service. [65 ILCS 5/11-74.4-5 (d) (8) (B) and 5/11-74.6-22 (d) (8) (B)] If attachment I is yes, the Analysis and an accompanying letter from the municipality outlining the contractual relationship between the municipality and the financial advisor/underwriter MUST be attached (labeled Attachment J). X Has a cumulative of $100,000 of TIF revenue been deposited into the special tax allocation fund? 65 ILCS 5/11-74.4-5 (d) (2) and 5/11-74.6-22 (d) (2) If yes, please enclose audited financial statements of the special tax allocation fund (labeled Attachment K). X Cumulatively, have deposits of incremental taxes revenue equal to or greater than $100,000 been made into the special tax allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)] If yes, the audit report shall contain a letter from the independent certified public accountant indicating compliance or noncompliance with the requirements of subsection (q) of Section 11-74.4-3 (labeled Attachment L). X A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) (10)] If yes, please enclose the list only, not actual agreements (labeled Attachment M). X For redevelopment projects beginning in or after FY 2022, did the developer identify to the municipality a stated rate of return for each redevelopment project area? Stated rates of return required to be reported shall be independently verified by a third party chosen by the municipality. If yes, please enclose evidence of third party verification, may be in the form of a letter from the third party (labeled Attachment N). X SECTION 2 [Sections 2 through 8 must be completed for each redevelopment project area listed in Section 1.] Please utilize the information below to properly label the Attachments. X ______ *Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. Mixed Retail Commercial Howard and Ridge-TIF No.5 A. Page 7 of 127 -- 7 of 127 -- FY 2024 Special Tax Allocation Fund Balance at Beginning of Reporting Period 1,836,837 $ SOURCE of Revenue/Cash Receipts: Revenue/Cash Receipts for Current Reporting Year Cumulative Totals of Revenue/Cash Receipts for life of TIF % of Total Property Tax Increment 1,311,460 $ 12,554,801 $ 72% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest 101,625 $ 315,282 $ 2% Land/Building Sale Proceeds 0% Bond Proceeds 0% Transfers from Municipal Sources 3,570,000 $ 21% Private Sources 282,307 $ 2% Other (identify source _____________; if multiple other sources, attach schedule) 66,046 $ 604,386 $ 3% All Amount Deposited in Special Tax Allocation Fund 1,479,131 $ Cumulative Total Revenues/Cash Receipts 17,326,776 $ 100% Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) 1,401,664 $ Transfers to Municipal Sources Distribution of Surplus Total Expenditures/Disbursements 1,401,664 $ Net/Income/Cash Receipts Over/(Under) Cash Disbursements 77,467 $ Previous Year Adjustment (Explain Below) . FUND BALANCE, END OF REPORTING PERIOD* 1,914,304 $ * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation: SECTION 3.1 [65 ILCS 5/11-74.4-5 (d)(5)(a)(b)(d)) and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d)] Provide an analysis of the special tax allocation fund. Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: A. Page 8 of 127 -- 8 of 127 -- FY 2024 Name of Redevelopment Project Area: Amounts Reporting Fiscal Year Housing and Economic Development 1,038,148 Transfers Out 363,516 1,401,664 $ 2. Annual administrative cost. - $ 3. Cost of marketing sites. - $ - $ - $ - $ 4. Property assembly cost and site preparation costs. 5. Costs of renovation, rehabilitation, reconstruction, relocation, repair or remodeling of existing public or private building, leasehold improvements, and fixtures within a redevelopment project area. 6. Costs of the constructuion of public works or improvements. 1. Cost of studies, surveys, development of plans, and specifications. Implementation and administration of the redevelopment plan, staff and professional service cost. SECTION 3.2 A [65 ILCS 5/11-74.4-5 (d) (5) (c) and 65 ILCS 5/11-74.6-22 (d) (5)(c)] Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6- 10 (o)] PAGE 1 ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND Howard and Ridge-TIF No.5 A. Page 9 of 127 -- 9 of 127 -- - $ - $ - $ - $ - $ - $ 10. Capital costs. 7. Costs of eliminating or removing contaminants and other impediments. 8. Cost of job training and retraining projects. 9. Financing costs. PAGE 2 SECTION 3.2 A 11. Cost of reimbursing school districts for their increased costs caused by TIF assisted housing projects. 12. Cost of reimbursing library districts for their increased costs caused by TIF assisted housing projects. A. Page 10 of 127 -- 10 of 127 -- - $ - $ - $ - $ - $ - $ 1,401,664 $ 17. Cost of day care services. TOTAL ITEMIZED EXPENDITURES 13. Relocation costs. 14. Payments in lieu of taxes. 15. Costs of job training, retraining, advanced vocational or career education. 16. Interest cost incurred by redeveloper or other nongovernmental persons in connection with a redevelopment project. SECTION 3.2 A PAGE 3 18. Other. A. Page 11 of 127 -- 11 of 127 -- FY 2024 Name Service Amount All Together Evanston Thrives Communication Plan 687.50 $ All Together Evanston Thrives Placemaking Plan 2,125.50 $ Ryan LLC Professional Services 203.00 $ Teska Associates, Inc. Howard Street SSA 23,740.00 $ Environmental Consulting Soil Gas Testing Howard Street 5,450.00 $ Environmental Consulting Consulting Services Howard Street 3900 Illuminating Lighting LLC 2023 Holiday Lights LLC 22,000 Peckish One LLC Small Businees Recovery Program 17,962.34 $ Illinois EPA Phase II Environmental Study 173,329.72 $ Infinity and Me Hair Salon Storefront Modernization 4,425.00 $ Beards and Bellas Storefront Modernization 5,619.00 $ Illuminating Lighting LLC Holiday Lights- first installment 12,000.00 $ Illuminating Lighting LLC New holiday lights 2,000.00 $ COMED 727 Howard 268.69 $ NICOR 727 Howard 495.20 $ NICOR 729 Howard 1,614.18 $ NICOR 739 Howard 140.11 $ Property Acquisitions 729-739 Howard 922,025.86 $ Herrera Landscape Snow Removal INC BD Planters Landscape Maintenance 14,319.67 $ General Fund Transfer General Fund transfer 75,000.00 $ 2024 Debt Service Debt Service Payments 288,516.00 $ List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Section 3.2 B [Information in the following section is not required by law, but may be helpful in creating fiscal transparency.] Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: A. Page 12 of 127 -- 12 of 127 -- FY 2024 FUND BALANCE BY SOURCE 1,914,304 $ 1. Description of Debt Obligations Amount of Original Issuance Amount Designated General Obligation Corporate Seroies 2018D 3,570,000 $ 3,045,000 $ Total Amount Designated for Obligations 3,570,000 $ 3,045,000 $ 2. Description of Project Costs to be Paid Amount of Original Issuance Amount Designated Redevelopment Project Costs Reimbursements 60,000 $ Capital Improvements 1,700,000 $ Total Amount Designated for Project Costs 1,760,000 $ TOTAL AMOUNT DESIGNATED 4,805,000 $ SURPLUS/(DEFICIT) (2,890,696) $ SECTION 3.3 [65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d] Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: A. Page 13 of 127 -- 13 of 127 -- FY 2024 Indicate an 'X' if no property was acquired by the municipality within the redevelopment project area. Property (1): Street address: 729-39 Howard Approximate size or description of property: Purchase price: 950,000.00 Seller of property: Ms Soon Rhim Yun and Mr. Jung Ho Yun Property (2): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (3): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (4): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: A. Page 14 of 127 -- 14 of 127 -- X 6 0 TOTAL: 11/1/99 to Date Estimated Investment for Subsequent Fiscal Year Total Estimated to Complete Project Private Investment Undertaken (See Instructions) 782,500 $ - $ 4,957,500 $ Public Investment Undertaken 312,500 $ - $ 1,762,500 $ Ratio of Private/Public Investment 2 1/2 2 13/16 Project 1 Name: 501 Howard Private Investment Undertaken (See Instructions) 3,000,000 $ Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 2 Name: Ward Eight Wine Bar Private Investment Undertaken (See Instructions) Public Investment Undertaken 100,000 $ 100,000 $ Ratio of Private/Public Investment 0 0 Project 3 Name: 607 Howard LOC Private Investment Undertaken (See Instructions) 12,500 $ 12,500 $ Public Investment Undertaken 12,500 $ 12,500 $ Ratio of Private/Public Investment 1 1 Project 4 Name:Peckish Pig Private Investment Undertaken (See Instructions) 770,000 $ 1,445,000 $ Public Investment Undertaken 200,000 $ 200,000 $ Ratio of Private/Public Investment 7 9/40 Project 5 Name: Theo Ubique Theatre Private Investment Undertaken (See Instructions) 500,000 $ Public Investment Undertaken 1,400,000 $ Ratio of Private/Public Investment 0 5/14 Project 6 Name:Café Corelle Private Investment Undertaken (See Instructions) Public Investment Undertaken 50,000 $ Ratio of Private/Public Investment 0 0 Select ONE of the following by indicating an 'X': SECTION 5 [20 ILCS 620/4.7 (7)(F)] PAGE 1 FY 2024 Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: Page 1 MUST be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed. 1. NO projects were undertaken by the Municipality Within the Redevelopment Project Area. 2. The municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a and 2b.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: 2b. Did the municipality undertake any NEW projects in fiscal year 2022 or any fiscal year thereafter within the Redevelopment Project Area? A. Page 15 of 127 -- 15 of 127 -- FY 2024 Number of Jobs Retained Number of Jobs Created Job Description and Type (Temporary or Permanent) Total Salaries Paid - $ Temporary Permanent Temporary Permanent Stated Rate of Return The number of jobs, if any, projected to be created at the time of approval of the redevelopment agreement. Project Name SECTION 6.4-For redevelopment projects beginning in or after FY 2022, provide the stated rate of return identified by the developer to the municipality and verified by an independent third party, IF ANY: Project Name SECTION 6 [Information requested in SECTION 6.1 is not required by law, but may be helpful in evaluating the performance of TIF in Illinois. SECTIONS 6.2, 6.3, and 6.4 are required by law, if applicable. (65 ILCS 5/11-74.4-5(d))] The number of jobs, if any, created as a result of the development to date, for the reporting period, under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement. SECTION 6.2-For redevelopment projects beginning in or after FY 2022, complete the following information about projected job creation and actual job creation. SECTION 6.1-For redevelopment projects beginning before FY 2022, complete the following information about job creation and retention. Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: The amount of increment projected to be created at the time of approval of the redevelopment agreement. SECTION 6.3-For redevelopment projects beginning in or after FY 2022, complete the following information about increment projected to be created and actual increment created. Project Name The amount of increment created as a result of the development to date, for the reporting period, using the same assumptions as was used for the projections used at the time of the approval of the redevelopment agreement. A. Page 16 of 127 -- 16 of 127 -- FY 2024 Provide a general description of the redevelopment project area using only major boundaries. Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: SECTION 7 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] Enclosed Map of District Legal description of redevelopment project area Optional Documents A. Page 17 of 127 -- 17 of 127 -- FY 2024 Base EAV 11,416,635 $ X - $ - $ - $ - $ - $ - $ - $ - $ - $ SECTION 8 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] Howard and Ridge-TIF No.5 Name of Redevelopment Project Area: Year of Designation 2004 Reporting Fiscal Year EAV TY2023 $28,028,336 - $ - $ - $ - $ Indicate an 'X' if the overlapping taxing districts did not receive a surplus. Overlapping Taxing District Surplus Distributed from redevelopment project area to overlapping districts Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area. List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. A. Page 18 of 127 -- 18 of 127 -- Attachment B City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: City of Evanston Howard Ridge TIF District To Whom It May Concern: I, Daniel Biss, Mayor of the City of Evanston, County of Cook, State of Illinois, do hereby certify that to the best of my knowledge, the City of Evanston complied with the requirements pertaining to the Illinois Tax Increment Redevelopment Allocation Act during the Fiscal Year beginning January 1, 2024 and ending December 31, 2024. ______________________________ ____________________________ MAYOR DATE 09 / 16 / 2025 A. Page 19 of 127 -- 19 of 127 -- Attachment C City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: Attorney Review City of Evanston Howard Ridge TIF District To Whom It May Concern: This will confirm that I am the City Attorney for the City of Evanston, Illinois. I have reviewed all information provided to me by the City staff and consultants, and I find that the City of Evanston has conformed to all applicable requirements of the Illinois Tax Increment Redevelopment Allocation Act set forth thereunder for the Fiscal Year beginning January 1, 2024 and ending December 31, 2024 to the best of my knowledge and belief. Sincerely, Corporation Counsel A. Page 20 of 127 -- 20 of 127 -- Howard Ridge Attachment D Statement setting forth all activities undertaken in furtherance of the objectives of the Redevelopment Plan, including: A. Any project implemented during the reporting Period; and B. A description of the redevelopment activities undertaken. The City made a final payment and successfully completed the redevelopment agreement for the the 195-unit rental housing development (located at 415 Howard St.). The City’s role was to rebate all of the incremental real estate taxes through an existing redevelopment agreement to address certain TIF eligible extraordinary costs, but only upon achievement of a 90% occupancy level. Business district planning activities included the Evanston Thrives revitalization strategy along with One Howard. Both are business district plans that will ultimately result in investment, some with TIF, in business district infrastructure and activities. In 2024, 729-39 Howard Street was purchased for affordable housing development. In Phase II the environmental studies are to be completed in 2025 and disposition/redevelopment plans finalized in late 2025. A. Page 21 of 127 -- 21 of 127 -- CITY OF EVANSTON, ILLINOIS REPORT ON COMPLIANCE WITH PUBLIC ACT 85-1142 For the Year Ended December 31, 2024 Attachment K A. Page 22 of 127 -- 22 of 127 -- CITY OF EVANSTON, ILLINOIS TABLE OF CONTENTS Page(s) INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE ................................................ 1 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION ......................................................................... 2 SUPPLEMENTARY INFORMATION Combining Balance Sheet Tax Increment Financing District Funds ..................................................................... 3 Combining Schedules of Revenues, Expenditures and Changes in Fund Balances Tax Increment Financing District Funds ..................................................................... 4 Combining Schedule of Fund Balances by Source Tax Increment Financing District Funds ..................................................................... 5 A. Page 23 of 127 -- 23 of 127 -- - 2 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor Members of the City Council City of Evanston, Illinois We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund and the aggregate remaining fund information of the City of Evanston, Illinois (the City) as of and for the year ended December 31, 2024, which collectively comprise the basic financial statements of the City of Evanston, Illinois, and have issued our report thereon dated June 26, 2025. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The supplementary financial information as listed in the table of contents is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 26, 2025 A. Page 24 of 127 -- 24 of 127 -- SUPPLEMENTARY INFORMATION A. Page 25 of 127 -- 25 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) ASSETS Cash 91,953 $ 175,588 $ 10,523 $ 66,027 $ 145,256 $ 489,347 $ Receivables Property tax - - - - 4,451 4,451 Leases - - 266,011 - - 266,011 Accrued interest - - 153 - - 153 Due from other funds 2,841,697 805,831 1,894,251 2,636,719 727,061 8,905,559 TOTAL ASSETS 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES LIABILITIES Accounts payable 3,098,749 $ 202 $ 6,131 $ 280,675 $ 1,044 $ 3,386,801 $ Due to other governments - - - - 585,947 585,947 Total liabilities 3,098,749 202 6,131 280,675 586,991 3,972,748 DEFERRED INFLOWS OF RESOURCES Leases - - 250,503 - - 250,503 Total deferred inflows of resources - - 250,503 - - 250,503 Total liabilities and deferred inflows of resources 3,098,749 202 256,634 280,675 586,991 4,223,251 FUND BALANCES Restricted for debt service - 981,217 1,914,304 2,422,071 289,777 5,607,369 Unassigned (deficit) (165,099) - - - - (165,099) Total fund balances (deficit) (165,099) 981,217 1,914,304 2,422,071 289,777 5,442,270 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ CITY OF EVANSTON, ILLINOIS COMBINING BALANCE SHEET TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 3 - A. Page 26 of 127 -- 26 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) REVENUES Property tax 1,167,349 $ 488,906 $ 1,311,460 $ 2,088,286 $ 1,420,595 $ 6,476,596 $ Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), JANUARY 1 222,046 648,258 1,836,837 2,217,034 (137,389) 4,786,786 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS TAX INCREMENT FINANCING DISTRICT FUNDS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 4 - A. Page 27 of 127 -- 27 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) BEGINNING BALANCES, JANUARY 1 222,046 $ 648,258 $ 1,836,837 $ 2,217,034 $ (137,389) $ 4,786,786 $ REVENUES Property tax 1,167,349 488,906 1,311,460 2,088,286 1,420,595 6,476,596 Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ ENDING BALANCE BY SOURCE Property taxes - $ 908,267 $ 1,625,554 $ 2,137,993 $ 267,671 $ 4,939,485 $ Investment income - 72,950 288,750 284,078 22,106 667,884 Deficit (165,099) - - - - (165,099) ENDING BALANCE (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 5 - A. Page 28 of 127 -- 28 of 127 -- - 1 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor Members of the City Council City of Evanston, Illinois We have examined management’s assertion that the City of Evanston, Illinois (the City), complied with the provisions of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act (Illinois Public Act 85-1142) during the year ended December 31, 2024. Management is responsible for the City’s assertion. Our responsibility is to express an opinion on management’s assertion about the City’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. We are required to be independent and meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. Our examination does not provide a legal determination on the City’s compliance with the specified requirements. In our opinion, management’s assertion that the City of Evanston, Illinois complied with the aforementioned requirements for the year ended December 31, 2024 is fairly stated, in all material respects. This report is intended solely for the information and use of the Mayor, City Council, management and the Illinois Department of Revenue, Illinois State Comptroller’s office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 26, 2025 Attachment L A. Page 29 of 127 -- 29 of 127 -- First Name: Last Name: Address: Title: Telephone: City: Evanston Zip: 60201-2796 E-mail Date I attest to the best of my knowledge, that this FY 2024 report of the redevelopment project area(s) is complete and accurate pursuant to Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] and or Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.]. in the City/Village of: City of Evanston FILL OUT ONE FOR EACH TIF DISTICT Date Terminated MM/DD/YYYY West Evanston TIF District No.6 FY 2024 TIF Administrator Contact Information-Required Name of Municipality: County: City of Evanston Cook Unit Code: 016/175/30 Reporting Fiscal Year: Fiscal Year End: 2024 12/31/2024 9/1/2005 __________________________________________________________________________ _________________________________ Section 1 (65 ILCS 5/11-74.4-5 (d) (1.5) and 65 ILCS 5/11-74.6-22 (d) (1.5)*) Written signature of TIF Administrator Desai Hitesh 847-448-4311 hdesai@cityofevanston.org FY 2024 ANNUAL TAX INCREMENT FINANCE REPORT Name of Redevelopment Project Area Date Designated MM/DD/YYYY 2100 Ridge Avenue Chief Financial Officer *All statutory citations refer to one of two sections of the Illinois Municipal Code: The Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] or the Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.] 9/11/2025 B. Page 30 of 127 -- 30 of 127 -- FY 2024 Name of Redevelopment Project Area: Primary Use of Redevelopment Project Area*: If "Combination/Mixed" List Component Types: Under which section of the Illinois Municipal Code was the Redevelopment Project Area designated? (check one): Tax Increment Allocation Redevelopment Act Industrial Jobs Recovery Law No Yes For redevelopment projects beginning prior to FY 2022, were there any amendments, to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment (labeled Attachment A). For redevelopment projects beginning in or after FY 2022, were there any amendments, enactments or extensions to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment, enactment or extension, and a copy of the redevelopment plan (labeled Attachment A). X Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of the requirements of the Act during the preceding fiscal year. [65 ILCS 5/11-74.4-5 (d) (3) and 5/11-74.6-22 (d) (3)] Please enclose the CEO Certification (labeled Attachment B). X Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5/11-74.4-5 (d) (4) and 5/11-74.6-22 (d) (4)] Please enclose the Legal Counsel Opinion (labeled Attachment C). X Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project implemented and a description of the redevelopment activities. [65 ILCS 5/11-74.4-5 (d) (7) (A and B) and 5/11-74.6-22 (d) (7) (A and B)] If yes, please enclose the Activities Statement (labled Attachment D). X Were any agreements entered into by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (7) (C) and 5/11-74.6-22 (d) (7) (C)] If yes, please enclose the Agreement(s) (labeled Attachment E). X Is there additional information on the use of all funds received under this Division and steps taken by the municipality to achieve the objectives of the redevelopment plan? [65 ILCS 5/11-74.4-5 (d) (7) (D) and 5/11-74.6-22 (d) (7) (D)] If yes, please enclose the Additional Information (labeled Attachment F). X Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have received or are receiving payments financed by tax increment revenues produced by the same TIF? [65 ILCS 5/11-74.4-5 (d) (7) (E) and 5/11-74.6-22 (d) (7) (E)] If yes, please enclose the contract(s) or description of the contract(s) (labeled Attachment G). X Were there any reports submitted to the municipality by the joint review board? [65 ILCS 5/11-74.4-5 (d) (7) (F) and 5/11-74.6-22 (d) (7) (F)] If yes, please enclose the Joint Review Board Report (labeled Attachment H). X Were any obligations issued by the municipality? [65 ILCS 5/11-74.4-5 (d) (8) (A) and 5/11-74.6-22 (d) (8) (A)] If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached (labeled Attachment J). X An analysis prepared by a financial advisor or underwriter, chosen by the municipality, setting forth the nature and term of obligation; projected debt service including required reserves and debt coverage; and actual debt service. [65 ILCS 5/11-74.4-5 (d) (8) (B) and 5/11-74.6-22 (d) (8) (B)] If attachment I is yes, the Analysis and an accompanying letter from the municipality outlining the contractual relationship between the municipality and the financial advisor/underwriter MUST be attached (labeled Attachment J). X Has a cumulative of $100,000 of TIF revenue been deposited into the special tax allocation fund? 65 ILCS 5/11-74.4-5 (d) (2) and 5/11-74.6-22 (d) (2) If yes, please enclose audited financial statements of the special tax allocation fund (labeled Attachment K). X Cumulatively, have deposits of incremental taxes revenue equal to or greater than $100,000 been made into the special tax allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)] If yes, the audit report shall contain a letter from the independent certified public accountant indicating compliance or noncompliance with the requirements of subsection (q) of Section 11-74.4-3 (labeled Attachment L). X A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) (10)] If yes, please enclose the list only, not actual agreements (labeled Attachment M). X For redevelopment projects beginning in or after FY 2022, did the developer identify to the municipality a stated rate of return for each redevelopment project area? Stated rates of return required to be reported shall be independently verified by a third party chosen by the municipality. If yes, please enclose evidence of third party verification, may be in the form of a letter from the third party (labeled Attachment N). X SECTION 2 [Sections 2 through 8 must be completed for each redevelopment project area listed in Section 1.] Please utilize the information below to properly label the Attachments. X ______ *Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. Mixed Retail Commercial West Evanston TIF District No. 6 B. Page 31 of 127 -- 31 of 127 -- FY 2024 Special Tax Allocation Fund Balance at Beginning of Reporting Period 2,217,034 $ SOURCE of Revenue/Cash Receipts: Revenue/Cash Receipts for Current Reporting Year Cumulative Totals of Revenue/Cash Receipts for life of TIF % of Total Property Tax Increment 2,088,286 $ 11,738,796 $ 90% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest 168,156 $ 373,255 $ 3% Land/Building Sale Proceeds 0% Bond Proceeds 0% Transfers from Municipal Sources 22,622 $ 0% Private Sources 0% Other (identify source _____________; if multiple other sources, attach schedule) 905,699 $ 7% All Amount Deposited in Special Tax Allocation Fund 2,256,442 $ Cumulative Total Revenues/Cash Receipts 13,040,372 $ 100% Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) 2,051,405 $ Transfers to Municipal Sources Distribution of Surplus Total Expenditures/Disbursements 2,051,405 $ Net/Income/Cash Receipts Over/(Under) Cash Disbursements 205,037 $ Previous Year Adjustment (Explain Below) . FUND BALANCE, END OF REPORTING PERIOD* 2,422,071 $ * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation: SECTION 3.1 [65 ILCS 5/11-74.4-5 (d)(5)(a)(b)(d)) and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d)] Provide an analysis of the special tax allocation fund. West Evanston TIF District No. 6 Name of Redevelopment Project Area: B. Page 32 of 127 -- 32 of 127 -- FY 2024 Name of Redevelopment Project Area: Amounts Reporting Fiscal Year Housing and Economic Development 1,976,405 Transfers out 75,000 2,051,405 $ 2. Annual administrative cost. - $ 3. Cost of marketing sites. - $ - $ - $ - $ 1. Cost of studies, surveys, development of plans, and specifications. Implementation and administration of the redevelopment plan, staff and professional service cost. SECTION 3.2 A [65 ILCS 5/11-74.4-5 (d) (5) (c) and 65 ILCS 5/11-74.6-22 (d) (5)(c)] Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6- 10 (o)] PAGE 1 ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND West Evanston TIF District No. 6 4. Property assembly cost and site preparation costs. 5. Costs of renovation, rehabilitation, reconstruction, relocation, repair or remodeling of existing public or private building, leasehold improvements, and fixtures within a redevelopment project area. 6. Costs of the constructuion of public works or improvements. B. Page 33 of 127 -- 33 of 127 -- - $ - $ - $ - $ - $ - $ 11. Cost of reimbursing school districts for their increased costs caused by TIF assisted housing projects. 12. Cost of reimbursing library districts for their increased costs caused by TIF assisted housing projects. 10. Capital costs. 7. Costs of eliminating or removing contaminants and other impediments. 8. Cost of job training and retraining projects. 9. Financing costs. PAGE 2 SECTION 3.2 A B. Page 34 of 127 -- 34 of 127 -- - $ - $ - $ - $ - $ - $ 2,051,405 $ 17. Cost of day care services. TOTAL ITEMIZED EXPENDITURES 13. Relocation costs. 14. Payments in lieu of taxes. 15. Costs of job training, retraining, advanced vocational or career education. 16. Interest cost incurred by redeveloper or other nongovernmental persons in connection with a redevelopment project. SECTION 3.2 A PAGE 3 18. Other. B. Page 35 of 127 -- 35 of 127 -- FY 2024 Name Service Amount ARRUS, LLC Redevelopment Consulting Services 4,000.00 $ All Together Evanston Thrives Communication 687.50 $ All Together Evanston Thrives Placemaking Kit 120.00 $ Ryan LLC Professional Services 11,078.00 $ All Together Evanston Thrives Placemaking Kit 680.00 $ Chicago Commercial Appraisal Group Appraisal 1,900.00 $ B.H Suhr & Company Inc. Plat of Survey Greenwood Companies 3,625.00 $ SB Freidman Development Advisors LLC WE Consulting TIF Economic Impact 7,361.25 $ Advertising Ad Notice Bid 19.17 $ Real Estate Tax Payments Property Tax Emerson/Jackson St 83,149.78 $ Illuminating Lighting Llc 2023 Holiday Lights 13,000.00 $ Ebony Barber Shop Small Business Recovery Program 12,500.00 $ Herrea Landscape Snow Removal Inc BD Planters and Landscape 1,400.23 $ C&W Market and Ice Cream Small Business Recovery Program 12,500.00 $ Hecky's Barbecue Small Business Recovery Program 25,000.00 $ Herrea Landscape Snow Removal Inc BD Maintenance 2,100.36 $ Minouche Boutique Small Business Recovery Program $11,730.00 Herrea Landscape Snow Removal Inc BD District Planters 13,153.44 $ Illuminating Lighting Llc Holiday Décor Dempster 2,175.00 $ Illuminating Lighting Llc First Instaallment Holiday Lights 8,250.00 $ Herrea Landscape Snow Removal Inc BD Planters and Landscape 700.15 $ B.H Suhr & Company Inc. Plats of Survey for Properties 3,625.00 $ Teska Associates Mason Pk Expansion Church/Dodge 83,158.75 $ Singh & Associates Engineering Services streetlight/sidewk 211,501.87 $ Bolder Contractors 2023 Water Main Impr. Street Resurf 59,440.73 $ Alliance Contractors Sidewalk Street light bid 24-26 1,022,385.08 $ Utility Dynamics Corporation Street Light Improvement 269,751.15 $ General Fund Transfer Transfer $75,000 List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Section 3.2 B [Information in the following section is not required by law, but may be helpful in creating fiscal transparency.] West Evanston TIF District No. 6 Name of Redevelopment Project Area: B. Page 36 of 127 -- 36 of 127 -- FY 2024 FUND BALANCE BY SOURCE 2,422,071 $ 1. Description of Debt Obligations Amount of Original Issuance Amount Designated Total Amount Designated for Obligations - $ - $ 2. Description of Project Costs to be Paid Amount of Original Issuance Amount Designated Redevelopemnt Project Costs 1,500,000 $ Implementation Activities-Master Plan 1,000,000 $ City TIF Reimbursement 60,000 $ Total Amount Designated for Project Costs 2,560,000 $ TOTAL AMOUNT DESIGNATED 2,560,000 $ SURPLUS/(DEFICIT) (137,929) $ SECTION 3.3 [65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d] Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source West Evanston TIF District No. 6 Name of Redevelopment Project Area: B. Page 37 of 127 -- 37 of 127 -- FY 2024 X Indicate an 'X' if no property was acquired by the municipality within the redevelopment project area. Property (1): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (2): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (3): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (4): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] West Evanston TIF District No. 6 Name of Redevelopment Project Area: B. Page 38 of 127 -- 38 of 127 -- 8 0 TOTAL: 11/1/99 to Date Estimated Investment for Subsequent Fiscal Year Total Estimated to Complete Project Private Investment Undertaken (See Instructions) 7,432,000 $ - $ - $ Public Investment Undertaken 172,805 $ - $ - $ Ratio of Private/Public Investment 43 0 Project 1 Name: LSL Industries Private Investment Undertaken (See Instructions) 1,100,000 $ Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 2 Name:Church Street Townhouses Private Investment Undertaken (See Instructions) 700,000 $ Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 3 Name:Greenwood Loft Private Investment Undertaken (See Instructions) 5,000,000 $ Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 4 Name:IRMCI Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5 Name: Northshore General Contractors COO-OP Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6 Name:Emerson Street Square Private Investment Undertaken (See Instructions) 19,000 $ Public Investment Undertaken 9,805 $ Ratio of Private/Public Investment 1 15/16 0 1. NO projects were undertaken by the Municipality Within the Redevelopment Project Area. 2. The municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a and 2b.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: 2b. Did the municipality undertake any NEW projects in fiscal year 2022 or any fiscal year thereafter within the Redevelopment Project Area? Select ONE of the following by indicating an 'X': SECTION 5 [20 ILCS 620/4.7 (7)(F)] PAGE 1 FY 2024 West Evanston TIF District No. 6 Name of Redevelopment Project Area: Page 1 MUST be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed. B. Page 39 of 127 -- 39 of 127 -- Project 7 Name:IMRCO Private Investment Undertaken (See Instructions) 363,000 $ Public Investment Undertaken 63,000 $ Ratio of Private/Public Investment 5 16/21 0 Project 8 Name: Heartwood Private Investment Undertaken (See Instructions) 250,000 $ Public Investment Undertaken 100,000 $ Ratio of Private/Public Investment 2 1/2 0 Project 9 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 10 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 11 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 12 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 13 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 14 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 15 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 PAGE 2 **ATTACH ONLY IF PROJECTS ARE LISTED** B. Page 40 of 127 -- 40 of 127 -- FY 2024 Number of Jobs Retained Number of Jobs Created Job Description and Type (Temporary or Permanent) Total Salaries Paid - $ Temporary Permanent Temporary Permanent Stated Rate of Return The amount of increment projected to be created at the time of approval of the redevelopment agreement. SECTION 6.3-For redevelopment projects beginning in or after FY 2022, complete the following information about increment projected to be created and actual increment created. Project Name The amount of increment created as a result of the development to date, for the reporting period, using the same assumptions as was used for the projections used at the time of the approval of the redevelopment agreement. SECTION 6 [Information requested in SECTION 6.1 is not required by law, but may be helpful in evaluating the performance of TIF in Illinois. SECTIONS 6.2, 6.3, and 6.4 are required by law, if applicable. (65 ILCS 5/11-74.4-5(d))] The number of jobs, if any, created as a result of the development to date, for the reporting period, under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement. SECTION 6.2-For redevelopment projects beginning in or after FY 2022, complete the following information about projected job creation and actual job creation. SECTION 6.1-For redevelopment projects beginning before FY 2022, complete the following information about job creation and retention. West Evanston TIF District No. 6 Name of Redevelopment Project Area: The number of jobs, if any, projected to be created at the time of approval of the redevelopment agreement. Project Name SECTION 6.4-For redevelopment projects beginning in or after FY 2022, provide the stated rate of return identified by the developer to the municipality and verified by an independent third party, IF ANY: Project Name B. Page 41 of 127 -- 41 of 127 -- FY 2024 Enclosed Map of District Legal description of redevelopment project area Optional Documents Provide a general description of the redevelopment project area using only major boundaries. West Evanston TIF District No. 6 Name of Redevelopment Project Area: SECTION 7 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] B. Page 42 of 127 -- 42 of 127 -- FY 2024 Base EAV 37,477,570 $ X Indicate an 'X' if the overlapping taxing districts did not receive a surplus. Overlapping Taxing District Surplus Distributed from redevelopment project area to overlapping districts Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area. List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. - $ - $ - $ - $ SECTION 8 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] West Evanston TIF District No. 6 Name of Redevelopment Project Area: Year of Designation 2005 Reporting Fiscal Year EAV TY2023 $ 64,994,375 - $ - $ - $ - $ - $ - $ - $ - $ - $ B. Page 43 of 127 -- 43 of 127 -- Attachment B City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: City of Evanston West Evanston TIF District To Whom It May Concern: I, Daniel Biss, Mayor of the City of Evanston, County of Cook, State of Illinois, do hereby certify that to the best of my knowledge, the City of Evanston complied with the requirements pertaining to the Illinois Tax Increment Redevelopment Allocation Act during the Fiscal Year beginning January 1, 2024 and ending December 31, 2024. ______________________________ ____________________________ MAYOR DATE 09 / 16 / 2025 B. Page 44 of 127 -- 44 of 127 -- Attachment C City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: Attorney Review City of Evanston West Evanston TIF District To Whom It May Concern: This will confirm that I am the City Attorney for the City of Evanston, Illinois. I have reviewed all information provided to me by the City staff and consultants, and I find that the City of Evanston has conformed to all applicable requirements of the Illinois Tax Increment Redevelopment Allocation Act set forth thereunder for the Fiscal Year beginning January 1, 2024 and ending December 31, 2024 to the best of my knowledge and belief. Sincerely, Corporation Counsel B. Page 45 of 127 -- 45 of 127 -- West Evanston Attachment D Statement setting forth all activities undertaken in furtherance of the objectives of the Redevelopment Plan, including: A. Any project implemented during the reporting Period; and B. A description of the redevelopment activities undertaken. The City continued to monitor redevelopment activities / awaiting court proceedings delaying the implementation of an affordable housing development. The project is expected to break ground in 2026. The City council approved the acquisition of 1821 Lake Street (listed inaccurately in the Cook County property database as 1521 Lake Street) for $200,000. The property will be integrated into a larger land assemblage for recreation/green space. City Council approved a grant of $560,000 to assist with the renovation of 1901 Church Street – a mixed-use building featuring several Black-owned businesses and apartments on the upper floors. The Evanston Public Works Agency began final plans and city council approval for sidewalk installation in the south end of the TIF at Greenleaf and Hartrey for an estimated $1m in TIF. The project will begin in 2024. Additional funding was approved for lead service line removal ($500k), engineering for Mason Park Expansion ($250k) and lighting at Church and Dodge ($215k) Evanston Rebuilding Warehouse has entered into Grant Agreement with the City of Evanston seeking $225,000 towards a 6500 square foot warehouse and renovation costing $425,000, anticipated date of completion First Quarter 2025. A number of small grants funded district improvements, and several consulting contracts related to business district revitalization. B. Page 46 of 127 -- 46 of 127 -- CITY OF EVANSTON, ILLINOIS REPORT ON COMPLIANCE WITH PUBLIC ACT 85-1142 For the Year Ended December 31, 2024 Attachment K B. Page 47 of 127 -- 47 of 127 -- CITY OF EVANSTON, ILLINOIS TABLE OF CONTENTS Page(s) INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE ................................................ 1 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION ......................................................................... 2 SUPPLEMENTARY INFORMATION Combining Balance Sheet Tax Increment Financing District Funds ..................................................................... 3 Combining Schedules of Revenues, Expenditures and Changes in Fund Balances Tax Increment Financing District Funds ..................................................................... 4 Combining Schedule of Fund Balances by Source Tax Increment Financing District Funds ..................................................................... 5 B. Page 48 of 127 -- 48 of 127 -- - 2 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor Members of the City Council City of Evanston, Illinois We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund and the aggregate remaining fund information of the City of Evanston, Illinois (the City) as of and for the year ended December 31, 2024, which collectively comprise the basic financial statements of the City of Evanston, Illinois, and have issued our report thereon dated June 26, 2025. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The supplementary financial information as listed in the table of contents is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 26, 2025 B. Page 49 of 127 -- 49 of 127 -- SUPPLEMENTARY INFORMATION B. Page 50 of 127 -- 50 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) ASSETS Cash 91,953 $ 175,588 $ 10,523 $ 66,027 $ 145,256 $ 489,347 $ Receivables Property tax - - - - 4,451 4,451 Leases - - 266,011 - - 266,011 Accrued interest - - 153 - - 153 Due from other funds 2,841,697 805,831 1,894,251 2,636,719 727,061 8,905,559 TOTAL ASSETS 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES LIABILITIES Accounts payable 3,098,749 $ 202 $ 6,131 $ 280,675 $ 1,044 $ 3,386,801 $ Due to other governments - - - - 585,947 585,947 Total liabilities 3,098,749 202 6,131 280,675 586,991 3,972,748 DEFERRED INFLOWS OF RESOURCES Leases - - 250,503 - - 250,503 Total deferred inflows of resources - - 250,503 - - 250,503 Total liabilities and deferred inflows of resources 3,098,749 202 256,634 280,675 586,991 4,223,251 FUND BALANCES Restricted for debt service - 981,217 1,914,304 2,422,071 289,777 5,607,369 Unassigned (deficit) (165,099) - - - - (165,099) Total fund balances (deficit) (165,099) 981,217 1,914,304 2,422,071 289,777 5,442,270 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ CITY OF EVANSTON, ILLINOIS COMBINING BALANCE SHEET TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 3 - B. Page 51 of 127 -- 51 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) REVENUES Property tax 1,167,349 $ 488,906 $ 1,311,460 $ 2,088,286 $ 1,420,595 $ 6,476,596 $ Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), JANUARY 1 222,046 648,258 1,836,837 2,217,034 (137,389) 4,786,786 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS TAX INCREMENT FINANCING DISTRICT FUNDS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 4 - B. Page 52 of 127 -- 52 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) BEGINNING BALANCES, JANUARY 1 222,046 $ 648,258 $ 1,836,837 $ 2,217,034 $ (137,389) $ 4,786,786 $ REVENUES Property tax 1,167,349 488,906 1,311,460 2,088,286 1,420,595 6,476,596 Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ ENDING BALANCE BY SOURCE Property taxes - $ 908,267 $ 1,625,554 $ 2,137,993 $ 267,671 $ 4,939,485 $ Investment income - 72,950 288,750 284,078 22,106 667,884 Deficit (165,099) - - - - (165,099) ENDING BALANCE (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 5 - B. Page 53 of 127 -- 53 of 127 -- - 1 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor Members of the City Council City of Evanston, Illinois We have examined management’s assertion that the City of Evanston, Illinois (the City), complied with the provisions of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act (Illinois Public Act 85-1142) during the year ended December 31, 2024. Management is responsible for the City’s assertion. Our responsibility is to express an opinion on management’s assertion about the City’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. We are required to be independent and meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. Our examination does not provide a legal determination on the City’s compliance with the specified requirements. In our opinion, management’s assertion that the City of Evanston, Illinois complied with the aforementioned requirements for the year ended December 31, 2024 is fairly stated, in all material respects. This report is intended solely for the information and use of the Mayor, City Council, management and the Illinois Department of Revenue, Illinois State Comptroller’s office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 26, 2025 Attachment L B. Page 54 of 127 -- 54 of 127 -- First Name: Last Name: Address: Title: Telephone: City: Evanston Zip: 60201-2796 E-mail Date I attest to the best of my knowledge, that this FY 2024 report of the redevelopment project area(s) is complete and accurate pursuant to Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] and or Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.]. in the City/Village of: City of Evanston FILL OUT ONE FOR EACH TIF DISTICT Date Terminated MM/DD/YYYY Dempster Dodge TIF District No.7 FY 2024 TIF Administrator Contact Information-Required Name of Municipality: County: City of Evanston Cook Unit Code: 016/175/30 Reporting Fiscal Year: Fiscal Year End: 2024 12/31/2024 6/25/2012 __________________________________________________________________________ _________________________________ Section 1 (65 ILCS 5/11-74.4-5 (d) (1.5) and 65 ILCS 5/11-74.6-22 (d) (1.5)*) Written signature of TIF Administrator Desai Hitesh 847-448-4311 hdesai@cityofevanston.org FY 2024 ANNUAL TAX INCREMENT FINANCE REPORT Name of Redevelopment Project Area Date Designated MM/DD/YYYY 2100 Ridge Avenue Chieff Financial Officer *All statutory citations refer to one of two sections of the Illinois Municipal Code: The Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] or the Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.] 9/11/2025 C. Page 55 of 127 -- 55 of 127 -- FY 2024 Name of Redevelopment Project Area: Primary Use of Redevelopment Project Area*: If "Combination/Mixed" List Component Types: Under which section of the Illinois Municipal Code was the Redevelopment Project Area designated? (check one): Tax Increment Allocation Redevelopment Act Industrial Jobs Recovery Law No Yes For redevelopment projects beginning prior to FY 2022, were there any amendments, to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment (labeled Attachment A). For redevelopment projects beginning in or after FY 2022, were there any amendments, enactments or extensions to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment, enactment or extension, and a copy of the redevelopment plan (labeled Attachment A). X Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of the requirements of the Act during the preceding fiscal year. [65 ILCS 5/11-74.4-5 (d) (3) and 5/11-74.6-22 (d) (3)] Please enclose the CEO Certification (labeled Attachment B). X Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5/11-74.4-5 (d) (4) and 5/11-74.6-22 (d) (4)] Please enclose the Legal Counsel Opinion (labeled Attachment C). X Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project implemented and a description of the redevelopment activities. [65 ILCS 5/11-74.4-5 (d) (7) (A and B) and 5/11-74.6-22 (d) (7) (A and B)] If yes, please enclose the Activities Statement (labled Attachment D). X Were any agreements entered into by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (7) (C) and 5/11-74.6-22 (d) (7) (C)] If yes, please enclose the Agreement(s) (labeled Attachment E). X Is there additional information on the use of all funds received under this Division and steps taken by the municipality to achieve the objectives of the redevelopment plan? [65 ILCS 5/11-74.4-5 (d) (7) (D) and 5/11-74.6-22 (d) (7) (D)] If yes, please enclose the Additional Information (labeled Attachment F). X Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have received or are receiving payments financed by tax increment revenues produced by the same TIF? [65 ILCS 5/11-74.4-5 (d) (7) (E) and 5/11-74.6-22 (d) (7) (E)] If yes, please enclose the contract(s) or description of the contract(s) (labeled Attachment G). X Were there any reports submitted to the municipality by the joint review board? [65 ILCS 5/11-74.4-5 (d) (7) (F) and 5/11-74.6-22 (d) (7) (F)] If yes, please enclose the Joint Review Board Report (labeled Attachment H). X Were any obligations issued by the municipality? [65 ILCS 5/11-74.4-5 (d) (8) (A) and 5/11-74.6-22 (d) (8) (A)] If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached (labeled Attachment J). X An analysis prepared by a financial advisor or underwriter, chosen by the municipality, setting forth the nature and term of obligation; projected debt service including required reserves and debt coverage; and actual debt service. [65 ILCS 5/11-74.4-5 (d) (8) (B) and 5/11-74.6-22 (d) (8) (B)] If attachment I is yes, the Analysis and an accompanying letter from the municipality outlining the contractual relationship between the municipality and the financial advisor/underwriter MUST be attached (labeled Attachment J). X Has a cumulative of $100,000 of TIF revenue been deposited into the special tax allocation fund? 65 ILCS 5/11-74.4-5 (d) (2) and 5/11-74.6-22 (d) (2) If yes, please enclose audited financial statements of the special tax allocation fund (labeled Attachment K). X Cumulatively, have deposits of incremental taxes revenue equal to or greater than $100,000 been made into the special tax allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)] If yes, the audit report shall contain a letter from the independent certified public accountant indicating compliance or noncompliance with the requirements of subsection (q) of Section 11-74.4-3 (labeled Attachment L). X A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) (10)] If yes, please enclose the list only, not actual agreements (labeled Attachment M). X For redevelopment projects beginning in or after FY 2022, did the developer identify to the municipality a stated rate of return for each redevelopment project area? Stated rates of return required to be reported shall be independently verified by a third party chosen by the municipality. If yes, please enclose evidence of third party verification, may be in the form of a letter from the third party (labeled Attachment N). X SECTION 2 [Sections 2 through 8 must be completed for each redevelopment project area listed in Section 1.] Please utilize the information below to properly label the Attachments. X ______ *Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. CBD Dempster Dodge TIF No.7 C. Page 56 of 127 -- 56 of 127 -- FY 2024 Special Tax Allocation Fund Balance at Beginning of Reporting Period 648,258 $ SOURCE of Revenue/Cash Receipts: Revenue/Cash Receipts for Current Reporting Year Cumulative Totals of Revenue/Cash Receipts for life of TIF % of Total Property Tax Increment 488,906 $ 1,916,643 $ 46% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest 48,700 $ 75,852 $ 2% Land/Building Sale Proceeds 0% Bond Proceeds 2,040,000 $ 49% Transfers from Municipal Sources 0% Private Sources 0% Other (identify source _____________; if multiple other sources, attach schedule) 127,512 $ 3% All Amount Deposited in Special Tax Allocation Fund 537,606 $ Cumulative Total Revenues/Cash Receipts 4,160,007 $ 100% Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) 204,647 $ Transfers to Municipal Sources Distribution of Surplus Total Expenditures/Disbursements 204,647 $ Net/Income/Cash Receipts Over/(Under) Cash Disbursements 332,959 $ Previous Year Adjustment (Explain Below) . FUND BALANCE, END OF REPORTING PERIOD* 981,217 $ * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation: SECTION 3.1 [65 ILCS 5/11-74.4-5 (d)(5)(a)(b)(d)) and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d)] Provide an analysis of the special tax allocation fund. Dempster Dodge TIF No.7 Name of Redevelopment Project Area: C. Page 57 of 127 -- 57 of 127 -- FY 2024 Name of Redevelopment Project Area: Amounts Reporting Fiscal Year Housing and Economic Development 27,791 Transfers out 176,856 204,647 $ 2. Annual administrative cost. - $ 3. Cost of marketing sites. - $ - $ - $ - $ 1. Cost of studies, surveys, development of plans, and specifications. Implementation and administration of the redevelopment plan, staff and professional service cost. SECTION 3.2 A [65 ILCS 5/11-74.4-5 (d) (5) (c) and 65 ILCS 5/11-74.6-22 (d) (5)(c)] Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6- 10 (o)] PAGE 1 ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND Dempster Dodge TIF No.7 4. Property assembly cost and site preparation costs. 5. Costs of renovation, rehabilitation, reconstruction, relocation, repair or remodeling of existing public or private building, leasehold improvements, and fixtures within a redevelopment project area. 6. Costs of the constructuion of public works or improvements. C. Page 58 of 127 -- 58 of 127 -- - $ - $ - $ - $ - $ - $ 11. Cost of reimbursing school districts for their increased costs caused by TIF assisted housing projects. 12. Cost of reimbursing library districts for their increased costs caused by TIF assisted housing projects. 10. Capital costs. 7. Costs of eliminating or removing contaminants and other impediments. 8. Cost of job training and retraining projects. 9. Financing costs. PAGE 2 SECTION 3.2 A C. Page 59 of 127 -- 59 of 127 -- - $ - $ - $ - $ - $ - $ 204,647 $ 17. Cost of day care services. TOTAL ITEMIZED EXPENDITURES 13. Relocation costs. 14. Payments in lieu of taxes. 15. Costs of job training, retraining, advanced vocational or career education. 16. Interest cost incurred by redeveloper or other nongovernmental persons in connection with a redevelopment project. SECTION 3.2 A PAGE 3 18. Other. C. Page 60 of 127 -- 60 of 127 -- FY 2024 Name Service Amount All Together Evanston Thrive Communication 1,300.36 $ All Together Evanston Thrives Placemaking 400.00 $ Ryan LLC Professional Services 203.00 $ Dance Center Evanston Small Business Recovery Grant 25,000.00 $ Illuminating Lighting LLC Holiday Décor Dempster 2,175.00 $ General Fund Transfer Transfer 9,996.00 $ 2024 Debt Service Debt Service 166,860.00 $ List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Section 3.2 B [Information in the following section is not required by law, but may be helpful in creating fiscal transparency.] Dempster Dodge TIF No.7 Name of Redevelopment Project Area: C. Page 61 of 127 -- 61 of 127 -- FY 2024 FUND BALANCE BY SOURCE 981,217 $ 1. Description of Debt Obligations Amount of Original Issuance Amount Designated G.O Corporate BondsSeries 2017C 2,040,000 $ 1,535,000 $ Total Amount Designated for Obligations 2,040,000 $ 1,535,000 $ 2. Description of Project Costs to be Paid Amount of Original Issuance Amount Designated Total Amount Designated for Project Costs - $ TOTAL AMOUNT DESIGNATED 1,535,000 $ SURPLUS/(DEFICIT) (553,783) $ SECTION 3.3 [65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d] Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source Dempster Dodge TIF No.7 Name of Redevelopment Project Area: C. Page 62 of 127 -- 62 of 127 -- FY 2024 X Indicate an 'X' if no property was acquired by the municipality within the redevelopment project area. Property (1): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (2): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (3): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (4): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] Dempster Dodge TIF No.7 Name of Redevelopment Project Area: C. Page 63 of 127 -- 63 of 127 -- X TOTAL: 11/1/99 to Date Estimated Investment for Subsequent Fiscal Year Total Estimated to Complete Project Private Investment Undertaken (See Instructions) - $ - $ - $ Public Investment Undertaken - $ - $ - $ Ratio of Private/Public Investment 0 0 Project 1 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 2 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 3 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 4 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 1. NO projects were undertaken by the Municipality Within the Redevelopment Project Area. 2. The municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a and 2b.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: 2b. Did the municipality undertake any NEW projects in fiscal year 2022 or any fiscal year thereafter within the Redevelopment Project Area? Select ONE of the following by indicating an 'X': SECTION 5 [20 ILCS 620/4.7 (7)(F)] PAGE 1 FY 2024 Dempster Dodge TIF No.7 Name of Redevelopment Project Area: Page 1 MUST be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed. C. Page 64 of 127 -- 64 of 127 -- FY 2024 Number of Jobs Retained Number of Jobs Created Job Description and Type (Temporary or Permanent) Total Salaries Paid - $ Temporary Permanent Temporary Permanent Stated Rate of Return The amount of increment projected to be created at the time of approval of the redevelopment agreement. SECTION 6.3-For redevelopment projects beginning in or after FY 2022, complete the following information about increment projected to be created and actual increment created. Project Name The amount of increment created as a result of the development to date, for the reporting period, using the same assumptions as was used for the projections used at the time of the approval of the redevelopment agreement. SECTION 6 [Information requested in SECTION 6.1 is not required by law, but may be helpful in evaluating the performance of TIF in Illinois. SECTIONS 6.2, 6.3, and 6.4 are required by law, if applicable. (65 ILCS 5/11-74.4-5(d))] The number of jobs, if any, created as a result of the development to date, for the reporting period, under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement. SECTION 6.2-For redevelopment projects beginning in or after FY 2022, complete the following information about projected job creation and actual job creation. SECTION 6.1-For redevelopment projects beginning before FY 2022, complete the following information about job creation and retention. Dempster Dodge TIF No.7 Name of Redevelopment Project Area: The number of jobs, if any, projected to be created at the time of approval of the redevelopment agreement. Project Name SECTION 6.4-For redevelopment projects beginning in or after FY 2022, provide the stated rate of return identified by the developer to the municipality and verified by an independent third party, IF ANY: Project Name C. Page 65 of 127 -- 65 of 127 -- FY 2024 Enclosed Map of District Legal description of redevelopment project area Optional Documents Provide a general description of the redevelopment project area using only major boundaries. Dempster Dodge TIF No.7 Name of Redevelopment Project Area: SECTION 7 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] C. Page 66 of 127 -- 66 of 127 -- FY 2024 Base EAV 10,816,879 $ X Indicate an 'X' if the overlapping taxing districts did not receive a surplus. Overlapping Taxing District Surplus Distributed from redevelopment project area to overlapping districts Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area. List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. - $ - $ - $ - $ SECTION 8 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] Dempster Dodge TIF No.7 Name of Redevelopment Project Area: Year of Designation 2012 Reporting Fiscal Year EAV TY2023 $ 16,908,404 - $ - $ - $ - $ - $ - $ - $ - $ - $ C. Page 67 of 127 -- 67 of 127 -- Attachment B City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: City of Evanston Dempster Dodge TIF District To Whom It May Concern: I, Daniel Biss, Mayor of the City of Evanston, County of Cook, State of Illinois, do hereby certify that to the best of my knowledge, the City of Evanston complied with the requirements pertaining to the Illinois Tax Increment Redevelopment Allocation Act during the Fiscal Year beginning January 1, 2024 and ending December 31, 2024. ______________________________ ____________________________ MAYOR DATE 09 / 16 / 2025 C. Page 68 of 127 -- 68 of 127 -- Attachment C City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: Attorney Review City of Evanston Dempster Dodge TIF District To Whom It May Concern: This will confirm that I am the City Attorney for the City of Evanston, Illinois. I have reviewed all information provided to me by the City staff and consultants, and I find that the City of Evanston has conformed to all applicable requirements of the Illinois Tax Increment Redevelopment Allocation Act set forth thereunder for the Fiscal Year beginning January 1, 2024 and ending December 31, 2024 to the best of my knowledge and belief. Sincerely, Corporation Counsel C. Page 69 of 127 -- 69 of 127 -- Dempster Dodge Attachment D Statement setting forth all activities undertaken in furtherance of the objectives of the Redevelopment Plan, including: A. Any project implemented during the reporting Period; and B. A description of the redevelopment activities undertaken. No activity occurred in 2023. For historical purposes, the City implemented the designation of the TIF District to address long standing vacancies within the shopping center and to reposition the property to improve both property tax and sales tax generation. The City continued discussions with the new property owners to review redevelopment plans for the shopping center. Renovation of the shopping center space has included a new grocery store as part of this redevelopment project, in a previous reporting year. C. Page 70 of 127 -- 70 of 127 -- CITY OF EVANSTON, ILLINOIS REPORT ON COMPLIANCE WITH PUBLIC ACT 85-1142 For the Year Ended December 31, 2024 Attachment K C. Page 71 of 127 -- 71 of 127 -- CITY OF EVANSTON, ILLINOIS TABLE OF CONTENTS Page(s) INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE ................................................ 1 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION ......................................................................... 2 SUPPLEMENTARY INFORMATION Combining Balance Sheet Tax Increment Financing District Funds ..................................................................... 3 Combining Schedules of Revenues, Expenditures and Changes in Fund Balances Tax Increment Financing District Funds ..................................................................... 4 Combining Schedule of Fund Balances by Source Tax Increment Financing District Funds ..................................................................... 5 C. Page 72 of 127 -- 72 of 127 -- - 2 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor Members of the City Council City of Evanston, Illinois We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund and the aggregate remaining fund information of the City of Evanston, Illinois (the City) as of and for the year ended December 31, 2024, which collectively comprise the basic financial statements of the City of Evanston, Illinois, and have issued our report thereon dated June 26, 2025. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The supplementary financial information as listed in the table of contents is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 26, 2025 C. Page 73 of 127 -- 73 of 127 -- SUPPLEMENTARY INFORMATION C. Page 74 of 127 -- 74 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) ASSETS Cash 91,953 $ 175,588 $ 10,523 $ 66,027 $ 145,256 $ 489,347 $ Receivables Property tax - - - - 4,451 4,451 Leases - - 266,011 - - 266,011 Accrued interest - - 153 - - 153 Due from other funds 2,841,697 805,831 1,894,251 2,636,719 727,061 8,905,559 TOTAL ASSETS 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES LIABILITIES Accounts payable 3,098,749 $ 202 $ 6,131 $ 280,675 $ 1,044 $ 3,386,801 $ Due to other governments - - - - 585,947 585,947 Total liabilities 3,098,749 202 6,131 280,675 586,991 3,972,748 DEFERRED INFLOWS OF RESOURCES Leases - - 250,503 - - 250,503 Total deferred inflows of resources - - 250,503 - - 250,503 Total liabilities and deferred inflows of resources 3,098,749 202 256,634 280,675 586,991 4,223,251 FUND BALANCES Restricted for debt service - 981,217 1,914,304 2,422,071 289,777 5,607,369 Unassigned (deficit) (165,099) - - - - (165,099) Total fund balances (deficit) (165,099) 981,217 1,914,304 2,422,071 289,777 5,442,270 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ CITY OF EVANSTON, ILLINOIS COMBINING BALANCE SHEET TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 3 - C. Page 75 of 127 -- 75 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) REVENUES Property tax 1,167,349 $ 488,906 $ 1,311,460 $ 2,088,286 $ 1,420,595 $ 6,476,596 $ Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), JANUARY 1 222,046 648,258 1,836,837 2,217,034 (137,389) 4,786,786 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS TAX INCREMENT FINANCING DISTRICT FUNDS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 4 - C. Page 76 of 127 -- 76 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) BEGINNING BALANCES, JANUARY 1 222,046 $ 648,258 $ 1,836,837 $ 2,217,034 $ (137,389) $ 4,786,786 $ REVENUES Property tax 1,167,349 488,906 1,311,460 2,088,286 1,420,595 6,476,596 Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ ENDING BALANCE BY SOURCE Property taxes - $ 908,267 $ 1,625,554 $ 2,137,993 $ 267,671 $ 4,939,485 $ Investment income - 72,950 288,750 284,078 22,106 667,884 Deficit (165,099) - - - - (165,099) ENDING BALANCE (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 5 - C. Page 77 of 127 -- 77 of 127 -- - 1 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor Members of the City Council City of Evanston, Illinois We have examined management’s assertion that the City of Evanston, Illinois (the City), complied with the provisions of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act (Illinois Public Act 85-1142) during the year ended December 31, 2024. Management is responsible for the City’s assertion. Our responsibility is to express an opinion on management’s assertion about the City’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. We are required to be independent and meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. Our examination does not provide a legal determination on the City’s compliance with the specified requirements. In our opinion, management’s assertion that the City of Evanston, Illinois complied with the aforementioned requirements for the year ended December 31, 2024 is fairly stated, in all material respects. This report is intended solely for the information and use of the Mayor, City Council, management and the Illinois Department of Revenue, Illinois State Comptroller’s office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 26, 2025 Attchment L C. Page 78 of 127 -- 78 of 127 -- First Name: Last Name: Address: Title: Telephone: City: Evanston Zip: 60201-2796 E-mail Date I attest to the best of my knowledge, that this FY 2024 report of the redevelopment project area(s) is complete and accurate pursuant to Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] and or Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.]. in the City/Village of: City of Evanston FILL OUT ONE FOR EACH TIF DISTICT Date Terminated MM/DD/YYYY Chicago Main TIF District-TIF No.8 FY 2024 TIF Administrator Contact Information-Required Name of Municipality: County: City of Evanston Cook Unit Code: 016/175/30 Reporting Fiscal Year: Fiscal Year End: 2024 12/31/2024 1/28/2013 __________________________________________________________________________ _________________________________ Section 1 (65 ILCS 5/11-74.4-5 (d) (1.5) and 65 ILCS 5/11-74.6-22 (d) (1.5)*) Written signature of TIF Administrator Desai Hitesh 847-448-4311 hdesai@cityofevanston.org FY 2024 ANNUAL TAX INCREMENT FINANCE REPORT Name of Redevelopment Project Area Date Designated MM/DD/YYYY 2100 Ridge Avenue Chief Financial Officer *All statutory citations refer to one of two sections of the Illinois Municipal Code: The Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] or the Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.] 9/11/2025 D. Page 79 of 127 -- 79 of 127 -- FY 2024 Name of Redevelopment Project Area: Primary Use of Redevelopment Project Area*: If "Combination/Mixed" List Component Types: Under which section of the Illinois Municipal Code was the Redevelopment Project Area designated? (check one): Tax Increment Allocation Redevelopment Act Industrial Jobs Recovery Law No Yes For redevelopment projects beginning prior to FY 2022, were there any amendments, to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment (labeled Attachment A). For redevelopment projects beginning in or after FY 2022, were there any amendments, enactments or extensions to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment, enactment or extension, and a copy of the redevelopment plan (labeled Attachment A). X Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of the requirements of the Act during the preceding fiscal year. [65 ILCS 5/11-74.4-5 (d) (3) and 5/11-74.6-22 (d) (3)] Please enclose the CEO Certification (labeled Attachment B). X Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5/11-74.4-5 (d) (4) and 5/11-74.6-22 (d) (4)] Please enclose the Legal Counsel Opinion (labeled Attachment C). X Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project implemented and a description of the redevelopment activities. [65 ILCS 5/11-74.4-5 (d) (7) (A and B) and 5/11-74.6-22 (d) (7) (A and B)] If yes, please enclose the Activities Statement (labled Attachment D). X Were any agreements entered into by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (7) (C) and 5/11-74.6-22 (d) (7) (C)] If yes, please enclose the Agreement(s) (labeled Attachment E). X Is there additional information on the use of all funds received under this Division and steps taken by the municipality to achieve the objectives of the redevelopment plan? [65 ILCS 5/11-74.4-5 (d) (7) (D) and 5/11-74.6-22 (d) (7) (D)] If yes, please enclose the Additional Information (labeled Attachment F). X Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have received or are receiving payments financed by tax increment revenues produced by the same TIF? [65 ILCS 5/11-74.4-5 (d) (7) (E) and 5/11-74.6-22 (d) (7) (E)] If yes, please enclose the contract(s) or description of the contract(s) (labeled Attachment G). X Were there any reports submitted to the municipality by the joint review board? [65 ILCS 5/11-74.4-5 (d) (7) (F) and 5/11-74.6-22 (d) (7) (F)] If yes, please enclose the Joint Review Board Report (labeled Attachment H). X Were any obligations issued by the municipality? [65 ILCS 5/11-74.4-5 (d) (8) (A) and 5/11-74.6-22 (d) (8) (A)] If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached (labeled Attachment J). X An analysis prepared by a financial advisor or underwriter, chosen by the municipality, setting forth the nature and term of obligation; projected debt service including required reserves and debt coverage; and actual debt service. [65 ILCS 5/11-74.4-5 (d) (8) (B) and 5/11-74.6-22 (d) (8) (B)] If attachment I is yes, the Analysis and an accompanying letter from the municipality outlining the contractual relationship between the municipality and the financial advisor/underwriter MUST be attached (labeled Attachment J). X Has a cumulative of $100,000 of TIF revenue been deposited into the special tax allocation fund? 65 ILCS 5/11-74.4-5 (d) (2) and 5/11-74.6-22 (d) (2) If yes, please enclose audited financial statements of the special tax allocation fund (labeled Attachment K). X Cumulatively, have deposits of incremental taxes revenue equal to or greater than $100,000 been made into the special tax allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)] If yes, the audit report shall contain a letter from the independent certified public accountant indicating compliance or noncompliance with the requirements of subsection (q) of Section 11-74.4-3 (labeled Attachment L). X A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) (10)] If yes, please enclose the list only, not actual agreements (labeled Attachment M). X For redevelopment projects beginning in or after FY 2022, did the developer identify to the municipality a stated rate of return for each redevelopment project area? Stated rates of return required to be reported shall be independently verified by a third party chosen by the municipality. If yes, please enclose evidence of third party verification, may be in the form of a letter from the third party (labeled Attachment N). X SECTION 2 [Sections 2 through 8 must be completed for each redevelopment project area listed in Section 1.] Please utilize the information below to properly label the Attachments. X ______ *Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. CBD Chicago Main TIF District NO. 8 D. Page 80 of 127 -- 80 of 127 -- FY 2024 Special Tax Allocation Fund Balance at Beginning of Reporting Period 222,046 $ SOURCE of Revenue/Cash Receipts: Revenue/Cash Receipts for Current Reporting Year Cumulative Totals of Revenue/Cash Receipts for life of TIF % of Total Property Tax Increment 1,167,349 $ 6,722,797 $ 56% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest 87,655 $ 216,462 $ 2% Land/Building Sale Proceeds 0% Bond Proceeds 3,520,189 $ 29% Transfers from Municipal Sources 1,580,000 $ 13% Private Sources 0% Other (identify source _____________; if multiple other sources, attach schedule) 50,000 $ 50,000 $ 0% All Amount Deposited in Special Tax Allocation Fund 1,305,004 $ Cumulative Total Revenues/Cash Receipts 12,089,448 $ 100% Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) 1,692,149 $ Transfers to Municipal Sources Distribution of Surplus Total Expenditures/Disbursements 1,692,149 $ Net/Income/Cash Receipts Over/(Under) Cash Disbursements (387,145) $ Previous Year Adjustment (Explain Below) . FUND BALANCE, END OF REPORTING PERIOD* (165,099) $ * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation: SECTION 3.1 [65 ILCS 5/11-74.4-5 (d)(5)(a)(b)(d)) and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d)] Provide an analysis of the special tax allocation fund. Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: D. Page 81 of 127 -- 81 of 127 -- FY 2024 Name of Redevelopment Project Area: Amounts Reporting Fiscal Year Housing and Economic Development 1,419,665 Transfers Out 272,484 1,692,149 $ 2. Annual administrative cost. - $ 3. Cost of marketing sites. - $ - $ - $ - $ 4. Property assembly cost and site preparation costs. 5. Costs of renovation, rehabilitation, reconstruction, relocation, repair or remodeling of existing public or private building, leasehold improvements, and fixtures within a redevelopment project area. 6. Costs of the constructuion of public works or improvements. 1. Cost of studies, surveys, development of plans, and specifications. Implementation and administration of the redevelopment plan, staff and professional service cost. SECTION 3.2 A [65 ILCS 5/11-74.4-5 (d) (5) (c) and 65 ILCS 5/11-74.6-22 (d) (5)(c)] Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6- 10 (o)] PAGE 1 ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND Chicago Main TIF District NO. 8 D. Page 82 of 127 -- 82 of 127 -- - $ - $ - $ - $ - $ - $ 10. Capital costs. 7. Costs of eliminating or removing contaminants and other impediments. 8. Cost of job training and retraining projects. 9. Financing costs. PAGE 2 SECTION 3.2 A 11. Cost of reimbursing school districts for their increased costs caused by TIF assisted housing projects. 12. Cost of reimbursing library districts for their increased costs caused by TIF assisted housing projects. D. Page 83 of 127 -- 83 of 127 -- - $ - $ - $ - $ - $ - $ 1,692,149 $ 17. Cost of day care services. TOTAL ITEMIZED EXPENDITURES 13. Relocation costs. 14. Payments in lieu of taxes. 15. Costs of job training, retraining, advanced vocational or career education. 16. Interest cost incurred by redeveloper or other nongovernmental persons in connection with a redevelopment project. SECTION 3.2 A PAGE 3 18. Other. D. Page 84 of 127 -- 84 of 127 -- FY 2024 Name Service Amount All Together Evanston Thrives Communication 2,012.72 $ All Together Evasnton Thrives Placemaking 800.00 $ Ryan LLC Professional Services 203.00 $ Illuminating Lighting LLc 2023 Holiday Lights Main Street 8,400.00 $ Herrera Landscape Snow Removal Inc. BD District Planters and Landscape 24,943.11 $ Cultivate Urban Rainforest Plants and Winter Plantings 18,480.00 $ Arborgreen Tree Service Main Street Tree Removal 6,000.00 $ Bolder Contractors 2023 Water Main/Street Impr. 253,356.00 $ Capital Cement Co. 2023 Alley Improvements 33,647.62 $ Patrick Engineering, Inc. Main St Improvement RFQ 18-28 12,799.59 $ Il Dept of Transportation Main St Improvement RES 24-R23 2,170,930.86 $ General Fund Transfer Transfer 30,000.00 $ 2023 Debt Service Debt Service 242,484.00 $ List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Section 3.2 B [Information in the following section is not required by law, but may be helpful in creating fiscal transparency.] Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: D. Page 85 of 127 -- 85 of 127 -- FY 2024 FUND BALANCE BY SOURCE (165,099) $ 1. Description of Debt Obligations Amount of Original Issuance Amount Designated Taxable GO Corporate Bonds Series 2017C 2,960,000 $ 2,225,000 $ Total Amount Designated for Obligations 2,960,000 $ 2,225,000 $ 2. Description of Project Costs to be Paid Amount of Original Issuance Amount Designated Redevelopemtn Costs Reimbursements 500,000 $ Total Amount Designated for Project Costs 500,000 $ TOTAL AMOUNT DESIGNATED 2,725,000 $ SURPLUS/(DEFICIT) (2,890,099) $ SECTION 3.3 [65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d] Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: D. Page 86 of 127 -- 86 of 127 -- FY 2024 X Indicate an 'X' if no property was acquired by the municipality within the redevelopment project area. Property (1): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (2): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (3): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (4): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: D. Page 87 of 127 -- 87 of 127 -- X 1 0 TOTAL: 11/1/99 to Date Estimated Investment for Subsequent Fiscal Year Total Estimated to Complete Project Private Investment Undertaken (See Instructions) - $ - $ 42,900,000 $ Public Investment Undertaken - $ - $ 2,900,000 $ Ratio of Private/Public Investment 0 14 23/29 Project 1 Name: 835 Chicago Avenue Private Investment Undertaken (See Instructions) 42,900,000 $ Public Investment Undertaken 2,900,000 $ Ratio of Private/Public Investment 0 14 23/29 Project 2 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 3 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 4 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Select ONE of the following by indicating an 'X': SECTION 5 [20 ILCS 620/4.7 (7)(F)] PAGE 1 FY 2024 Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: Page 1 MUST be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed. 1. NO projects were undertaken by the Municipality Within the Redevelopment Project Area. 2. The municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a and 2b.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: 2b. Did the municipality undertake any NEW projects in fiscal year 2022 or any fiscal year thereafter within the Redevelopment Project Area? D. Page 88 of 127 -- 88 of 127 -- FY 2024 Number of Jobs Retained Number of Jobs Created Job Description and Type (Temporary or Permanent) Total Salaries Paid - $ Temporary Permanent Temporary Permanent Stated Rate of Return The number of jobs, if any, projected to be created at the time of approval of the redevelopment agreement. Project Name SECTION 6.4-For redevelopment projects beginning in or after FY 2022, provide the stated rate of return identified by the developer to the municipality and verified by an independent third party, IF ANY: Project Name SECTION 6 [Information requested in SECTION 6.1 is not required by law, but may be helpful in evaluating the performance of TIF in Illinois. SECTIONS 6.2, 6.3, and 6.4 are required by law, if applicable. (65 ILCS 5/11-74.4-5(d))] The number of jobs, if any, created as a result of the development to date, for the reporting period, under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement. SECTION 6.2-For redevelopment projects beginning in or after FY 2022, complete the following information about projected job creation and actual job creation. SECTION 6.1-For redevelopment projects beginning before FY 2022, complete the following information about job creation and retention. Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: The amount of increment projected to be created at the time of approval of the redevelopment agreement. SECTION 6.3-For redevelopment projects beginning in or after FY 2022, complete the following information about increment projected to be created and actual increment created. Project Name The amount of increment created as a result of the development to date, for the reporting period, using the same assumptions as was used for the projections used at the time of the approval of the redevelopment agreement. D. Page 89 of 127 -- 89 of 127 -- FY 2024 Provide a general description of the redevelopment project area using only major boundaries. Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: SECTION 7 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] Enclosed Map of District Legal description of redevelopment project area Optional Documents D. Page 90 of 127 -- 90 of 127 -- FY 2024 Base EAV 11,489,118 $ X - $ - $ - $ - $ - $ - $ - $ - $ - $ SECTION 8 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] Chicago Main TIF District NO. 8 Name of Redevelopment Project Area: Year of Designation 2013 Reporting Fiscal Year EAV TY2023 $ 26,085,428 - $ - $ - $ - $ Indicate an 'X' if the overlapping taxing districts did not receive a surplus. Overlapping Taxing District Surplus Distributed from redevelopment project area to overlapping districts Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area. List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. D. Page 91 of 127 -- 91 of 127 -- Attachment B City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: City of Evanston Chicago Main TIF District To Whom It May Concern: I, Daniel Biss, Mayor of the City of Evanston, County of Cook, State of Illinois, do hereby certify that to the best of my knowledge, the City of Evanston complied with the requirements pertaining to the Illinois Tax Increment Redevelopment Allocation Act during the Fiscal Year beginning January 1, 2024 and ending December 31, 2024. ______________________________ ____________________________ MAYOR DATE 09 / 16 / 2025 D. Page 92 of 127 -- 92 of 127 -- Attachment C City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: Attorney Review City of Evanston Chicago Main TIF District To Whom It May Concern: This will confirm that I am the City Attorney for the City of Evanston, Illinois. I have reviewed all information provided to me by the City staff and consultants, and I find that the City of Evanston has conformed to all applicable requirements of the Illinois Tax Increment Redevelopment Allocation Act set forth thereunder for the Fiscal Year beginning January 1, 2024 and ending December 31, 2024 to the best of my knowledge and belief. Sincerely, Corporation Counsel D. Page 93 of 127 -- 93 of 127 -- Chicago Main Attachment D Statement setting forth all activities undertaken in furtherance of the objectives of the Redevelopment Plan, including: A. Any project implemented during the reporting Period; and B. A description of the redevelopment activities undertaken. The City continued the implementation of the agreement with Chicago & Main Evanston LLC that included a forgivable loan. The city has also approved expenditures for a number of business district improvements in the area. A water main replacement project was completed in 2022. Additional water main work was completed near the intersections of Chicago and Main and Hinman and Main. Chicago main street streetscape improvements completed in the fall of 2024. D. Page 94 of 127 -- 94 of 127 -- CITY OF EVANSTON, ILLINOIS REPORT ON COMPLIANCE WITH PUBLIC ACT 85-1142 For the Year Ended December 31, 2024 Attachment K D. Page 95 of 127 -- 95 of 127 -- CITY OF EVANSTON, ILLINOIS TABLE OF CONTENTS Page(s) INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE ................................................ 1 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION ......................................................................... 2 SUPPLEMENTARY INFORMATION Combining Balance Sheet Tax Increment Financing District Funds ..................................................................... 3 Combining Schedules of Revenues, Expenditures and Changes in Fund Balances Tax Increment Financing District Funds ..................................................................... 4 Combining Schedule of Fund Balances by Source Tax Increment Financing District Funds ..................................................................... 5 D. Page 96 of 127 -- 96 of 127 -- - 2 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor Members of the City Council City of Evanston, Illinois We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund and the aggregate remaining fund information of the City of Evanston, Illinois (the City) as of and for the year ended December 31, 2024, which collectively comprise the basic financial statements of the City of Evanston, Illinois, and have issued our report thereon dated June 26, 2025. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The supplementary financial information as listed in the table of contents is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 26, 2025 D. Page 97 of 127 -- 97 of 127 -- SUPPLEMENTARY INFORMATION D. Page 98 of 127 -- 98 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) ASSETS Cash 91,953 $ 175,588 $ 10,523 $ 66,027 $ 145,256 $ 489,347 $ Receivables Property tax - - - - 4,451 4,451 Leases - - 266,011 - - 266,011 Accrued interest - - 153 - - 153 Due from other funds 2,841,697 805,831 1,894,251 2,636,719 727,061 8,905,559 TOTAL ASSETS 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES LIABILITIES Accounts payable 3,098,749 $ 202 $ 6,131 $ 280,675 $ 1,044 $ 3,386,801 $ Due to other governments - - - - 585,947 585,947 Total liabilities 3,098,749 202 6,131 280,675 586,991 3,972,748 DEFERRED INFLOWS OF RESOURCES Leases - - 250,503 - - 250,503 Total deferred inflows of resources - - 250,503 - - 250,503 Total liabilities and deferred inflows of resources 3,098,749 202 256,634 280,675 586,991 4,223,251 FUND BALANCES Restricted for debt service - 981,217 1,914,304 2,422,071 289,777 5,607,369 Unassigned (deficit) (165,099) - - - - (165,099) Total fund balances (deficit) (165,099) 981,217 1,914,304 2,422,071 289,777 5,442,270 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ CITY OF EVANSTON, ILLINOIS COMBINING BALANCE SHEET TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 3 - D. Page 99 of 127 -- 99 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) REVENUES Property tax 1,167,349 $ 488,906 $ 1,311,460 $ 2,088,286 $ 1,420,595 $ 6,476,596 $ Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), JANUARY 1 222,046 648,258 1,836,837 2,217,034 (137,389) 4,786,786 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS TAX INCREMENT FINANCING DISTRICT FUNDS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 4 - D. Page 100 of 127 -- 100 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) BEGINNING BALANCES, JANUARY 1 222,046 $ 648,258 $ 1,836,837 $ 2,217,034 $ (137,389) $ 4,786,786 $ REVENUES Property tax 1,167,349 488,906 1,311,460 2,088,286 1,420,595 6,476,596 Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ ENDING BALANCE BY SOURCE Property taxes - $ 908,267 $ 1,625,554 $ 2,137,993 $ 267,671 $ 4,939,485 $ Investment income - 72,950 288,750 284,078 22,106 667,884 Deficit (165,099) - - - - (165,099) ENDING BALANCE (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 5 - D. Page 101 of 127 -- 101 of 127 -- - 1 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor Members of the City Council City of Evanston, Illinois We have examined management’s assertion that the City of Evanston, Illinois (the City), complied with the provisions of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act (Illinois Public Act 85-1142) during the year ended December 31, 2024. Management is responsible for the City’s assertion. Our responsibility is to express an opinion on management’s assertion about the City’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. We are required to be independent and meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. Our examination does not provide a legal determination on the City’s compliance with the specified requirements. In our opinion, management’s assertion that the City of Evanston, Illinois complied with the aforementioned requirements for the year ended December 31, 2024 is fairly stated, in all material respects. This report is intended solely for the information and use of the Mayor, City Council, management and the Illinois Department of Revenue, Illinois State Comptroller’s office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 26, 2025 Attachment L D. Page 102 of 127 -- 102 of 127 -- First Name: Last Name: Address: Title: Telephone: City: Evanston Zip: 60201-2796 E-mail Date I attest to the best of my knowledge, that this FY 2024 report of the redevelopment project area(s) is complete and accurate pursuant to Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] and or Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.]. in the City/Village of: City of Evanston FILL OUT ONE FOR EACH TIF DISTICT Date Terminated MM/DD/YYYY Five Fifths FY 2024 TIF Administrator Contact Information-Required Name of Municipality: County: City of Evanston Cook Unit Code: 016/175/30 Reporting Fiscal Year: Fiscal Year End: 2024 12/31/2024 10/25/2021 __________________________________________________________________________ _________________________________ Section 1 (65 ILCS 5/11-74.4-5 (d) (1.5) and 65 ILCS 5/11-74.6-22 (d) (1.5)*) Written signature of TIF Administrator Desai Hitesh 847-448-4311 hdesai@cityofevanston.org FY 2024 ANNUAL TAX INCREMENT FINANCE REPORT Name of Redevelopment Project Area Date Designated MM/DD/YYYY 2100 Ridge Avenue Chief Financial Officer *All statutory citations refer to one of two sections of the Illinois Municipal Code: The Tax Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4-3 et. seq.] or the Industrial Jobs Recovery Law [65 ILCS 5/11-74.6-10 et. seq.] 9/11/2025 E. Page 103 of 127 -- 103 of 127 -- FY 2024 Name of Redevelopment Project Area: Primary Use of Redevelopment Project Area*: If "Combination/Mixed" List Component Types: Under which section of the Illinois Municipal Code was the Redevelopment Project Area designated? (check one): Tax Increment Allocation Redevelopment Act Industrial Jobs Recovery Law No Yes For redevelopment projects beginning prior to FY 2022, were there any amendments, to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment (labeled Attachment A). For redevelopment projects beginning in or after FY 2022, were there any amendments, enactments or extensions to the redevelopment plan, the redevelopment project area, or the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (1) and 5/11-74.6-22 (d) (1)] If yes, please enclose the amendment, enactment or extension, and a copy of the redevelopment plan (labeled Attachment A). X Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of the requirements of the Act during the preceding fiscal year. [65 ILCS 5/11-74.4-5 (d) (3) and 5/11-74.6-22 (d) (3)] Please enclose the CEO Certification (labeled Attachment B). X Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5/11-74.4-5 (d) (4) and 5/11-74.6-22 (d) (4)] Please enclose the Legal Counsel Opinion (labeled Attachment C). X Statement setting forth all activities undertaken in furtherance of the objectives of the redevelopment plan, including any project implemented and a description of the redevelopment activities. [65 ILCS 5/11-74.4-5 (d) (7) (A and B) and 5/11-74.6-22 (d) (7) (A and B)] If yes, please enclose the Activities Statement (labled Attachment D). X Were any agreements entered into by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65 ILCS 5/11-74.4-5 (d) (7) (C) and 5/11-74.6-22 (d) (7) (C)] If yes, please enclose the Agreement(s) (labeled Attachment E). X Is there additional information on the use of all funds received under this Division and steps taken by the municipality to achieve the objectives of the redevelopment plan? [65 ILCS 5/11-74.4-5 (d) (7) (D) and 5/11-74.6-22 (d) (7) (D)] If yes, please enclose the Additional Information (labeled Attachment F). X Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have received or are receiving payments financed by tax increment revenues produced by the same TIF? [65 ILCS 5/11-74.4-5 (d) (7) (E) and 5/11-74.6-22 (d) (7) (E)] If yes, please enclose the contract(s) or description of the contract(s) (labeled Attachment G). X Were there any reports submitted to the municipality by the joint review board? [65 ILCS 5/11-74.4-5 (d) (7) (F) and 5/11-74.6-22 (d) (7) (F)] If yes, please enclose the Joint Review Board Report (labeled Attachment H). X Were any obligations issued by the municipality? [65 ILCS 5/11-74.4-5 (d) (8) (A) and 5/11-74.6-22 (d) (8) (A)] If yes, please enclose any Official Statement (labeled Attachment I). If Attachment I is answered yes, then the Analysis must be attached (labeled Attachment J). X An analysis prepared by a financial advisor or underwriter, chosen by the municipality, setting forth the nature and term of obligation; projected debt service including required reserves and debt coverage; and actual debt service. [65 ILCS 5/11-74.4-5 (d) (8) (B) and 5/11-74.6-22 (d) (8) (B)] If attachment I is yes, the Analysis and an accompanying letter from the municipality outlining the contractual relationship between the municipality and the financial advisor/underwriter MUST be attached (labeled Attachment J). X Has a cumulative of $100,000 of TIF revenue been deposited into the special tax allocation fund? 65 ILCS 5/11-74.4-5 (d) (2) and 5/11-74.6-22 (d) (2) If yes, please enclose audited financial statements of the special tax allocation fund (labeled Attachment K). X Cumulatively, have deposits of incremental taxes revenue equal to or greater than $100,000 been made into the special tax allocation fund? [65 ILCS 5/11-74.4-5 (d) (9) and 5/11-74.6-22 (d) (9)] If yes, the audit report shall contain a letter from the independent certified public accountant indicating compliance or noncompliance with the requirements of subsection (q) of Section 11-74.4-3 (labeled Attachment L). X A list of all intergovernmental agreements in effect to which the municipality is a part, and an accounting of any money transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) (10)] If yes, please enclose the list only, not actual agreements (labeled Attachment M). X For redevelopment projects beginning in or after FY 2022, did the developer identify to the municipality a stated rate of return for each redevelopment project area? Stated rates of return required to be reported shall be independently verified by a third party chosen by the municipality. If yes, please enclose evidence of third party verification, may be in the form of a letter from the third party (labeled Attachment N). X SECTION 2 [Sections 2 through 8 must be completed for each redevelopment project area listed in Section 1.] Please utilize the information below to properly label the Attachments. X ______ *Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed. Five Fifths TIF E. Page 104 of 127 -- 104 of 127 -- FY 2024 Special Tax Allocation Fund Balance at Beginning of Reporting Period (137,389) $ SOURCE of Revenue/Cash Receipts: Revenue/Cash Receipts for Current Reporting Year Cumulative Totals of Revenue/Cash Receipts for life of TIF % of Total Property Tax Increment 1,420,595 $ 2,340,077 $ 99% State Sales Tax Increment 0% Local Sales Tax Increment 0% State Utility Tax Increment 0% Local Utility Tax Increment 0% Interest 22,106 $ 22,106 $ 1% Land/Building Sale Proceeds 0% Bond Proceeds 0% Transfers from Municipal Sources 0% Private Sources 0% Other (identify source _____________; if multiple other sources, attach schedule) 0% All Amount Deposited in Special Tax Allocation Fund 1,442,701 $ Cumulative Total Revenues/Cash Receipts 2,362,183 $ 100% Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) 1,015,535 $ Transfers to Municipal Sources Distribution of Surplus Total Expenditures/Disbursements 1,015,535 $ Net/Income/Cash Receipts Over/(Under) Cash Disbursements 427,166 $ Previous Year Adjustment (Explain Below) . FUND BALANCE, END OF REPORTING PERIOD* 289,777 $ * If there is a positive fund balance at the end of the reporting period, you must complete Section 3.3 Previous Year Explanation: SECTION 3.1 [65 ILCS 5/11-74.4-5 (d)(5)(a)(b)(d)) and (65 ILCS 5/11-74.6-22 (d) (5)(a)(b)(d)] Provide an analysis of the special tax allocation fund. Five Fifths TIF Name of Redevelopment Project Area: E. Page 105 of 127 -- 105 of 127 -- FY 2024 Name of Redevelopment Project Area: Amounts Reporting Fiscal Year Housing and Economic Development 1,015,535 1,015,535 $ 2. Annual administrative cost. - $ 3. Cost of marketing sites. - $ - $ - $ - $ 1. Cost of studies, surveys, development of plans, and specifications. Implementation and administration of the redevelopment plan, staff and professional service cost. SECTION 3.2 A [65 ILCS 5/11-74.4-5 (d) (5) (c) and 65 ILCS 5/11-74.6-22 (d) (5)(c)] Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6- 10 (o)] PAGE 1 ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND Five Fifths TIF 4. Property assembly cost and site preparation costs. 5. Costs of renovation, rehabilitation, reconstruction, relocation, repair or remodeling of existing public or private building, leasehold improvements, and fixtures within a redevelopment project area. 6. Costs of the constructuion of public works or improvements. E. Page 106 of 127 -- 106 of 127 -- - $ - $ - $ - $ - $ - $ 11. Cost of reimbursing school districts for their increased costs caused by TIF assisted housing projects. 12. Cost of reimbursing library districts for their increased costs caused by TIF assisted housing projects. 10. Capital costs. 7. Costs of eliminating or removing contaminants and other impediments. 8. Cost of job training and retraining projects. 9. Financing costs. PAGE 2 SECTION 3.2 A E. Page 107 of 127 -- 107 of 127 -- - $ - $ - $ - $ - $ - $ 1,015,535 $ 17. Cost of day care services. TOTAL ITEMIZED EXPENDITURES 13. Relocation costs. 14. Payments in lieu of taxes. 15. Costs of job training, retraining, advanced vocational or career education. 16. Interest cost incurred by redeveloper or other nongovernmental persons in connection with a redevelopment project. SECTION 3.2 A PAGE 3 18. Other. E. Page 108 of 127 -- 108 of 127 -- FY 2024 Name Service Amount All Together Evanston Thrives Communication 1,006.36 $ All Together Evanston Thrives Placemaking 400.00 $ Ryan LLC Professional Services 203.00 $ Arrus LLC Design Services Dewey Ave 2,000.00 $ Herrera Landscape Snow Removal Inc. BD Planters and Landscape Maint. 11,397.87 $ Illuminight Lighting LLC Holiday Décor Ashland Lights 3,950.00 $ Illuminight Lighting LLC Lightpole Holiday Décor Simpson St 6,250.00 $ Evanston/Skokie School District 65 Tax Revenue Share Agreement 195,662.00 $ District 202 Tax Revenue Share Agreement 124,788.00 $ DBA Rebuilding Exchange 25% Advance for expansion 141,173.09 $ List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current reporting year. Section 3.2 B [Information in the following section is not required by law, but may be helpful in creating fiscal transparency.] Five Fifths TIF Name of Redevelopment Project Area: E. Page 109 of 127 -- 109 of 127 -- FY 2024 FUND BALANCE BY SOURCE 289,777 $ 1. Description of Debt Obligations Amount of Original Issuance Amount Designated Total Amount Designated for Obligations - $ - $ 2. Description of Project Costs to be Paid Amount of Original Issuance Amount Designated Future Redevelopment 300,000 $ Total Amount Designated for Project Costs 300,000 $ TOTAL AMOUNT DESIGNATED 300,000 $ SURPLUS/(DEFICIT) (10,223) $ SECTION 3.3 [65 ILCS 5/11-74.4-5 (d) (5d) 65 ILCS 5/11-74.6-22 (d) (5d] Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period by source Five Fifths TIF Name of Redevelopment Project Area: E. Page 110 of 127 -- 110 of 127 -- FY 2024 X Indicate an 'X' if no property was acquired by the municipality within the redevelopment project area. Property (1): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (2): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (3): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (4): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (5): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (6): Street address: Approximate size or description of property: Purchase price: Seller of property: Property (7): Street address: Approximate size or description of property: Purchase price: Seller of property: Provide a description of all property purchased by the municipality during the reporting fiscal year within the redevelopment project area. SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)] Five Fifths TIF Name of Redevelopment Project Area: E. Page 111 of 127 -- 111 of 127 -- X TOTAL: 11/1/99 to Date Estimated Investment for Subsequent Fiscal Year Total Estimated to Complete Project Private Investment Undertaken (See Instructions) - $ - $ - $ Public Investment Undertaken - $ - $ - $ Ratio of Private/Public Investment 0 0 Project 1 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 2 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 3 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 4 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 5 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 Project 6 Name: Private Investment Undertaken (See Instructions) Public Investment Undertaken Ratio of Private/Public Investment 0 0 1. NO projects were undertaken by the Municipality Within the Redevelopment Project Area. 2. The municipality DID undertake projects within the Redevelopment Project Area. (If selecting this option, complete 2a and 2b.) 2a. The total number of ALL activities undertaken in furtherance of the objectives of the redevelopment plan: LIST ALL projects undertaken by the Municipality Within the Redevelopment Project Area: 2b. Did the municipality undertake any NEW projects in fiscal year 2022 or any fiscal year thereafter within the Redevelopment Project Area? Select ONE of the following by indicating an 'X': SECTION 5 [20 ILCS 620/4.7 (7)(F)] PAGE 1 FY 2024 Five Fifths TIF Name of Redevelopment Project Area: Page 1 MUST be included with TIF report. Pages 2 and 3 are to be included ONLY if projects are listed. E. Page 112 of 127 -- 112 of 127 -- FY 2024 Number of Jobs Retained Number of Jobs Created Job Description and Type (Temporary or Permanent) Total Salaries Paid - $ Temporary Permanent Temporary Permanent Stated Rate of Return The amount of increment projected to be created at the time of approval of the redevelopment agreement. SECTION 6.3-For redevelopment projects beginning in or after FY 2022, complete the following information about increment projected to be created and actual increment created. Project Name The amount of increment created as a result of the development to date, for the reporting period, using the same assumptions as was used for the projections used at the time of the approval of the redevelopment agreement. SECTION 6 [Information requested in SECTION 6.1 is not required by law, but may be helpful in evaluating the performance of TIF in Illinois. SECTIONS 6.2, 6.3, and 6.4 are required by law, if applicable. (65 ILCS 5/11-74.4-5(d))] The number of jobs, if any, created as a result of the development to date, for the reporting period, under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement. SECTION 6.2-For redevelopment projects beginning in or after FY 2022, complete the following information about projected job creation and actual job creation. SECTION 6.1-For redevelopment projects beginning before FY 2022, complete the following information about job creation and retention. Five Fifths TIF Name of Redevelopment Project Area: The number of jobs, if any, projected to be created at the time of approval of the redevelopment agreement. Project Name SECTION 6.4-For redevelopment projects beginning in or after FY 2022, provide the stated rate of return identified by the developer to the municipality and verified by an independent third party, IF ANY: Project Name E. Page 113 of 127 -- 113 of 127 -- FY 2024 Enclosed Map of District Legal description of redevelopment project area Optional Documents Provide a general description of the redevelopment project area using only major boundaries. Five Fifths TIF Name of Redevelopment Project Area: SECTION 7 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] E. Page 114 of 127 -- 114 of 127 -- FY 2024 Base EAV 35,823,529 $ X Indicate an 'X' if the overlapping taxing districts did not receive a surplus. Overlapping Taxing District Surplus Distributed from redevelopment project area to overlapping districts Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area. List all overlapping tax districts in the redevelopment project area. If overlapping taxing district received a surplus, list the surplus. - $ - $ - $ - $ SECTION 8 [Information in the following section is not required by law, but may be helpful in evaluating the performance of TIF in Illinois.] Five Fifths TIF Name of Redevelopment Project Area: Year of Designation 2021 Reporting Fiscal Year EAV TY2023 $54,233,245 - $ - $ - $ - $ - $ - $ - $ - $ - $ E. Page 115 of 127 -- 115 of 127 -- Attachment B City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: City of Evanston Five Fifths TIF District To Whom It May Concern: I, Daniel Biss, Mayor of the City of Evanston, County of Cook, State of Illinois, do hereby certify that to the best of my knowledge, the City of Evanston complied with the requirements pertaining to the Illinois Tax Increment Redevelopment Allocation Act during the Fiscal Year beginning January 1, 2024 and ending December 31, 2024. ______________________________ ____________________________ MAYOR DATE 09 / 16 / 2025 E. Page 116 of 127 -- 116 of 127 -- Attachment C City of Evanston 909 Davis Street Evanston, Illinois 60201 T 847.448.4311 TTY 847.448.8064 www.cityofevanston.org September 16, 2025 RE: Attorney Review City of Evanston Five Fifths TIF District To Whom It May Concern: This will confirm that I am the City Attorney for the City of Evanston, Illinois. I have reviewed all information provided to me by the City staff and consultants, and I find that the City of Evanston has conformed to all applicable requirements of the Illinois Tax Increment Redevelopment Allocation Act set forth thereunder for the Fiscal Year beginning January 1, 2024 and ending December 31, 2024 to the best of my knowledge and belief. Sincerely, Corporation Counsel E. Page 117 of 127 -- 117 of 127 -- Attachment D Statement setting forth all activities undertaken in furtherance of the objectives of the Redevelopment Plan, including: A. Any project implemented during the reporting Period; and B. A description of the redevelopment activities undertaken. The City Council approved the acquisition of seven properties located at Emerson Street and Jackson Avenue. The properties were demolished in preparation for a future residential development. The Five Fifths TIF Advisory committee continues to meet on a regular basis to plan future TIF recommendations to the city council with a focus on affordable housing renovation and development along with business district improvement activities in the Ashland Arts District. TIF funding has been provided for the Evanston Thrives Business District Revitalization Action Plan. E. Page 118 of 127 -- 118 of 127 -- CITY OF EVANSTON, ILLINOIS REPORT ON COMPLIANCE WITH PUBLIC ACT 85-1142 For the Year Ended December 31, 2024 Attachment K E. Page 119 of 127 -- 119 of 127 -- CITY OF EVANSTON, ILLINOIS TABLE OF CONTENTS Page(s) INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE ................................................ 1 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION ......................................................................... 2 SUPPLEMENTARY INFORMATION Combining Balance Sheet Tax Increment Financing District Funds ..................................................................... 3 Combining Schedules of Revenues, Expenditures and Changes in Fund Balances Tax Increment Financing District Funds ..................................................................... 4 Combining Schedule of Fund Balances by Source Tax Increment Financing District Funds ..................................................................... 5 E. Page 120 of 127 -- 120 of 127 -- - 2 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT AUDITOR’S REPORT ON SUPPLEMENTARY INFORMATION The Honorable Mayor Members of the City Council City of Evanston, Illinois We have audited the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund and the aggregate remaining fund information of the City of Evanston, Illinois (the City) as of and for the year ended December 31, 2024, which collectively comprise the basic financial statements of the City of Evanston, Illinois, and have issued our report thereon dated June 26, 2025. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The supplementary financial information as listed in the table of contents is presented for the purpose of additional analysis and is not a required part of the basic financial statements. The supplementary financial information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Naperville, Illinois June 26, 2025 E. Page 121 of 127 -- 121 of 127 -- SUPPLEMENTARY INFORMATION E. Page 122 of 127 -- 122 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) ASSETS Cash 91,953 $ 175,588 $ 10,523 $ 66,027 $ 145,256 $ 489,347 $ Receivables Property tax - - - - 4,451 4,451 Leases - - 266,011 - - 266,011 Accrued interest - - 153 - - 153 Due from other funds 2,841,697 805,831 1,894,251 2,636,719 727,061 8,905,559 TOTAL ASSETS 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES LIABILITIES Accounts payable 3,098,749 $ 202 $ 6,131 $ 280,675 $ 1,044 $ 3,386,801 $ Due to other governments - - - - 585,947 585,947 Total liabilities 3,098,749 202 6,131 280,675 586,991 3,972,748 DEFERRED INFLOWS OF RESOURCES Leases - - 250,503 - - 250,503 Total deferred inflows of resources - - 250,503 - - 250,503 Total liabilities and deferred inflows of resources 3,098,749 202 256,634 280,675 586,991 4,223,251 FUND BALANCES Restricted for debt service - 981,217 1,914,304 2,422,071 289,777 5,607,369 Unassigned (deficit) (165,099) - - - - (165,099) Total fund balances (deficit) (165,099) 981,217 1,914,304 2,422,071 289,777 5,442,270 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 2,933,650 $ 981,419 $ 2,170,938 $ 2,702,746 $ 876,768 $ 9,665,521 $ CITY OF EVANSTON, ILLINOIS COMBINING BALANCE SHEET TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 3 - E. Page 123 of 127 -- 123 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) REVENUES Property tax 1,167,349 $ 488,906 $ 1,311,460 $ 2,088,286 $ 1,420,595 $ 6,476,596 $ Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), JANUARY 1 222,046 648,258 1,836,837 2,217,034 (137,389) 4,786,786 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS TAX INCREMENT FINANCING DISTRICT FUNDS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 4 - E. Page 124 of 127 -- 124 of 127 -- Chicago Main Dempster- Howard West Evanston Five Fifths Tax Dodge Tax Ridge Tax Tax Tax Total Increment Increment Increment Development Increment (Memorandum District District District Projects District Only) BEGINNING BALANCES, JANUARY 1 222,046 $ 648,258 $ 1,836,837 $ 2,217,034 $ (137,389) $ 4,786,786 $ REVENUES Property tax 1,167,349 488,906 1,311,460 2,088,286 1,420,595 6,476,596 Investment income 87,655 48,700 101,625 168,156 22,106 428,242 Miscellaneous 50,000 - 66,046 - - 116,046 Total revenues 1,305,004 537,606 1,479,131 2,256,442 1,442,701 7,020,884 EXPENDITURES Current Housing and economic development 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 Total expenditures 1,419,665 27,791 1,038,148 1,976,405 1,015,535 5,477,544 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (114,661) 509,815 440,983 280,037 427,166 1,543,340 OTHER FINANCING SOURCES (USES) Transfers (out) (272,484) (176,856) (363,516) (75,000) - (887,856) Total other financing sources (uses) (272,484) (176,856) (363,516) (75,000) - (887,856) NET CHANGE IN FUND BALANCES (387,145) 332,959 77,467 205,037 427,166 655,484 FUND BALANCES (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ ENDING BALANCE BY SOURCE Property taxes - $ 908,267 $ 1,625,554 $ 2,137,993 $ 267,671 $ 4,939,485 $ Investment income - 72,950 288,750 284,078 22,106 667,884 Deficit (165,099) - - - - (165,099) ENDING BALANCE (DEFICIT), DECEMBER 31 (165,099) $ 981,217 $ 1,914,304 $ 2,422,071 $ 289,777 $ 5,442,270 $ CITY OF EVANSTON, ILLINOIS COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TAX INCREMENT FINANCING DISTRICT FUNDS For the Year Ended December 31, 2024 (See independent auditor's report on supplementary information.) - 5 - E. Page 125 of 127 -- 125 of 127 -- - 1 - 1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400 INDEPENDENT ACCOUNTANT’S REPORT ON MANAGEMENT’S ASSERTION OF COMPLIANCE The Honorable Mayor Members of the City Council City of Evanston, Illinois We have examined management’s assertion that the City of Evanston, Illinois (the City), complied with the provisions of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment Allocation Act (Illinois Public Act 85-1142) during the year ended December 31, 2024. Management is responsible for the City’s assertion. Our responsibility is to express an opinion on management’s assertion about the City’s compliance with the specific requirements based on our examination. Our examination was made in accordance with the standards established by the American Institute of Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management’s assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management’s assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. We are required to be independent and meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. Our examination does not provide a legal determination on the City’s compliance with the specified requirements. In our opinion, management’s assertion that the City of Evanston, Illinois complied with the aforementioned requirements for the year ended December 31, 2024 is fairly stated, in all material respects. This report is intended solely for the information and use of the Mayor, City Council, management and the Illinois Department of Revenue, Illinois State Comptroller’s office and the Joint Review Board and should not be used by anyone other than these specified parties. Naperville, Illinois June 26, 2025 Attchment L E. Page 126 of 127 -- 126 of 127 -- Attachment M Name: Evanston TIF District: Five Fifths Name of Agreement Description of Agreement Amount Transferred Out Amount Received Evanston/Skokie Scholl District 65 Intergovernmental Agreement 195,662.00 $ Evanston H.S School District 202 Intergovernmental Agreement 124,788.00 $ A list of all intergovernmental agreements in effect from FY 2010, to which the municipality is a part, and an accounting of any money transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements. [65 ILCS 5/11-74.4-5 (d) (10)] INTERGOVERNMENTAL AGREEMENTS FY 2024 E. Page 127 of 127 -- 127 of 127 --
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The Tredyffrin Township Board of Supervisors held a public meeting on December 2, 2024, to consider ordinances creating a Public Arts Commission and Historic Resource Overlay District (HR-484) and authorizing acquisition of a 0.777-acre parcel at 595 Park Ridge Drive through a PEMA Hazard Mitigation Grant Program (HR-485). The agenda also included announcements about ongoing infrastructure projects including the Strafford Park and Bair Road stormwater projects and the Contention Lane Bridge closure in January, as well as motions to approve various township business items including park upgrades, storm and sanitary pipe projects, and escrow releases totaling approximately $700,000.
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